Boeing (NYSE:BA) Stock Price Down 1.7% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price traded down 1.7% on Tuesday . The company traded as low as $146.28 and last traded at $146.50. 4,257,900 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 9,019,665 shares. The stock had previously closed at $148.96.

Analyst Ratings Changes

BA has been the topic of a number of research reports. Susquehanna cut their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing presently has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Price Performance

The stock has a market cap of $89.74 billion, a PE ratio of -11.36 and a beta of 1.57. The company’s fifty day moving average is $154.81 and its 200-day moving average is $170.26.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm earned ($3.26) EPS. The firm’s revenue was down 1.5% on a year-over-year basis. Analysts expect that The Boeing Company will post -16.09 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently modified their holdings of the company. KKM Financial LLC boosted its holdings in Boeing by 4.7% in the third quarter. KKM Financial LLC now owns 10,193 shares of the aircraft producer’s stock valued at $1,550,000 after purchasing an additional 456 shares in the last quarter. CMG Global Holdings LLC increased its position in shares of Boeing by 16.7% during the third quarter. CMG Global Holdings LLC now owns 16,190 shares of the aircraft producer’s stock worth $2,462,000 after purchasing an additional 2,316 shares in the last quarter. Cerity Partners LLC lifted its stake in Boeing by 6.6% in the third quarter. Cerity Partners LLC now owns 112,288 shares of the aircraft producer’s stock valued at $17,072,000 after buying an additional 6,962 shares during the last quarter. Leelyn Smith LLC raised its position in Boeing by 6.8% in the 3rd quarter. Leelyn Smith LLC now owns 20,096 shares of the aircraft producer’s stock valued at $3,055,000 after purchasing an additional 1,277 shares during the last quarter. Finally, Nwam LLC acquired a new position in Boeing in the third quarter valued at $2,899,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.