Boeing (NYSE:BA) Shares Down 1.3% – Here’s What Happened

The Boeing Company (NYSE:BA) shares dropped 1.3% during mid-day trading on Friday . The company traded as low as $152.00 and last traded at $153.48. Approximately 2,780,775 shares changed hands during trading, a decline of 69% from the average daily volume of 8,992,650 shares. The stock had previously closed at $155.52.

Wall Street Analyst Weigh In

BA has been the topic of several analyst reports. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $210.00 in a report on Monday, January 6th. Melius Research set a $204.00 price objective on shares of Boeing in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. UBS Group boosted their target price on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Melius upgraded Boeing from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average price target of $196.10.

Boeing Stock Performance

The company has a market cap of $117.42 billion, a price-to-earnings ratio of -8.52 and a beta of 1.24. The stock’s fifty day moving average is $169.07 and its two-hundred day moving average is $163.90.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the prior year, the firm earned ($0.47) earnings per share. On average, equities research analysts expect that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value 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 represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Boeing by 24.4% during the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after buying an additional 12,641,715 shares during the period. Geode Capital Management LLC grew its position in shares of Boeing by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after acquiring an additional 3,452,075 shares during the period. Northern Trust Corp increased its stake in shares of Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Boeing by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock worth $890,469,000 after purchasing an additional 164,042 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after purchasing an additional 981,796 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

About Boeing

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.