Boeing (NYSE:BA) Trading Down 0.3%

The Boeing Company (NYSE:BA) shares were down 0.3% on Friday . The company traded as low as $152.60 and last traded at $154.17. Approximately 3,464,502 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 7,915,163 shares. The stock had previously closed at $154.59.

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. Robert W. Baird cut their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Stifel Nicolaus raised their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein cut their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Stock Down 0.5 %

The firm’s 50 day simple moving average is $171.80 and its 200-day simple moving average is $178.07. The company has a market capitalization of $94.40 billion, a PE ratio of -43.43 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) 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. During the same period in the prior year, the company posted ($0.82) EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boeing Company will post -4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Institutional investors have recently bought and sold shares of the business. Capital Research Global Investors boosted its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the period. Wellington Management Group LLP boosted its stake in shares of Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Global Assets Advisory LLC acquired a new stake in Boeing in the first quarter valued at $272,312,000. Finally, Vanguard Group Inc. raised its holdings in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 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.