Boeing (NYSE:BA) Trading Down 2.8% – Here’s Why

The Boeing Company (NYSE:BA)’s stock price dropped 2.8% on Tuesday . The company traded as low as $200.02 and last traded at $200.5360. Approximately 9,063,389 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 8,360,304 shares. The stock had previously closed at $206.27.

Wall Street Analysts Forecast Growth

BA has been the subject of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Zacks Research raised Boeing from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. BNP Paribas set a $150.00 target price on Boeing in a research report on Tuesday, November 18th. Finally, Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and raised their price target for the stock from $242.00 to $270.00 in a research report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.09.

Boeing Trading Down 2.8%

The company has a market cap of $152.43 billion, a price-to-earnings ratio of -14.66 and a beta of 1.18. The firm has a 50-day moving average price of $204.03 and a 200 day moving average price of $214.23.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analyst estimates of $21.61 billion. The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($10.44) earnings per share. Research analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In other Boeing news, SVP Dana S. Deasy purchased 554 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was acquired at an average cost of $178.88 per share, with a total value of $99,099.52. Following the acquisition, the senior vice president owned 28,442 shares of the company’s stock, valued at approximately $5,087,704.96. This represents a 1.99% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Uma M. Amuluru sold 1,366 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president directly owned 14,656 shares in the company, valued at $2,896,904.96. This represents a 8.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Boeing

Hedge funds have recently made changes to their positions in the business. Harbor Asset Planning Inc. bought a new position in Boeing in the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Boeing in the third quarter worth $25,000. Piscataqua Savings Bank increased its holdings in shares of Boeing by 1,712.5% during the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares during the period. Reyes Financial Architecture Inc. acquired a new position in shares of Boeing during the third quarter valued at $32,000. Finally, Davis Capital Management bought a new stake in shares of Boeing during the third quarter valued at about $33,000. 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.