Boeing (NYSE:BA) Shares Down 0.9% – What’s Next?

The Boeing Company (NYSE:BA)’s stock price fell 0.9% on Monday . The company traded as low as $202.30 and last traded at $203.97. 1,975,378 shares were traded during trading, a decline of 79% from the average session volume of 9,197,213 shares. The stock had previously closed at $205.82.

Analysts Set New Price Targets

A number of analysts have issued reports on BA shares. Susquehanna reissued a “positive” rating and issued a $240.00 target price (up previously from $205.00) on shares of Boeing in a research report on Wednesday, May 14th. UBS Group lifted their target price on Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Citigroup boosted their price target on shares of Boeing from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Melius Research set a $204.00 target price on shares of Boeing in a report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.35.

Boeing Price Performance

The company has a market cap of $154.73 billion, a PE ratio of -11.20 and a beta of 1.41. The company has a 50-day moving average price of $171.81 and a two-hundred day moving average price of $168.78.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. During the same period in the previous year, the business posted ($1.13) earnings per share. Boeing’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Transactions at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now directly owns 19,213 shares of the company’s stock, valued at $3,471,596.97. This trade represents a 14.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total transaction of $650,198.35. Following the completion of the sale, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,263 shares of company stock valued at $1,950,150. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boeing

Several hedge funds and other institutional investors have recently modified their holdings of BA. Park Avenue Securities LLC boosted its position in Boeing by 23.7% during the 4th quarter. Park Avenue Securities LLC now owns 11,486 shares of the aircraft producer’s stock worth $2,033,000 after acquiring an additional 2,202 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Boeing by 47.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 4,419 shares of the aircraft producer’s stock valued at $782,000 after purchasing an additional 1,421 shares in the last quarter. Carnegie Investment Counsel lifted its holdings in Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in shares of Boeing by 8.3% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 9,122 shares of the aircraft producer’s stock worth $1,615,000 after acquiring an additional 700 shares during the period. Finally, Sax Wealth Advisors LLC bought a new position in shares of Boeing in the fourth quarter valued at approximately $467,000. Institutional investors and hedge funds 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.