Boeing (NYSE:BA) Shares Down 2.1%

Shares of The Boeing Company (NYSE:BA) fell 2.1% on Monday . The stock traded as low as $151.24 and last traded at $153.02. 3,157,183 shares traded hands during trading, a decline of 61% from the average session volume of 7,996,444 shares. The stock had previously closed at $156.32.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group decreased their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. Robert W. Baird dropped their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. UBS Group lowered their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Finally, Stifel Nicolaus boosted 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, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $209.83.

Boeing Stock Performance

The business has a 50 day simple moving average of $168.52 and a 200-day simple moving average of $176.10. The firm has a market capitalization of $93.63 billion, a price-to-earnings ratio of -43.10 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. Boeing’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.82) EPS. Equities analysts predict that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Morris Harris LLC boosted its stake in shares of Boeing by 869.1% in the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after purchasing an additional 20,425 shares during the period. Park Avenue Securities LLC increased its position in shares of Boeing by 20.7% during the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after acquiring an additional 1,805 shares during the period. Williams Financial LLC acquired a new stake in shares of Boeing in the second quarter valued at $1,637,000. Granite Bay Wealth Management LLC purchased a new position in Boeing in the second quarter valued at $561,000. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Boeing by 115.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock worth $2,825,000 after purchasing an additional 7,848 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.