Boeing (NYSE:BA) Stock Price Down 3.2%

The Boeing Company (NYSE:BA) shares dropped 3.2% during mid-day trading on Thursday . The stock traded as low as $180.24 and last traded at $180.35. Approximately 2,071,659 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 9,012,690 shares. The stock had previously closed at $186.28.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Melius Research restated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. TD Cowen reduced their price target on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 25th. The Goldman Sachs Group dropped their price objective on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Benchmark reaffirmed a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Tuesday, March 26th. Finally, Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Boeing has a consensus rating of “Hold” and an average price target of $221.24.

Boeing Trading Down 7.6 %

The firm has a market capitalization of $105.72 billion, a PE ratio of -48.82 and a beta of 1.54. The business has a 50 day moving average price of $179.36 and a 200-day moving average price of $205.80.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. On average, equities research analysts forecast that The Boeing Company will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently made changes to their positions in BA. Trust Co. of Vermont grew its position in shares of Boeing by 1.0% in the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock valued at $841,000 after acquiring an additional 45 shares during the period. Benchmark Financial Wealth Advisors LLC increased its position in Boeing by 2.7% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock worth $465,000 after buying an additional 47 shares during the last quarter. WealthPlan Investment Management LLC raised its stake in Boeing by 1.0% in the fourth quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after buying an additional 49 shares during the period. RB Capital Management LLC lifted its position in shares of Boeing by 2.7% in the third quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock valued at $363,000 after buying an additional 50 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its stake in shares of Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 50 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

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.