Boeing (NYSE:BA) Trading Down 4.7% – Time to Sell?

by · The Cerbat Gem

The Boeing Company (NYSE:BAGet Free Report)’s stock price was down 4.7% during mid-day trading on Thursday . The stock traded as low as $227.50 and last traded at $229.37. Approximately 17,621,013 shares changed hands during mid-day trading, an increase of 143% from the average daily volume of 7,238,656 shares. The stock had previously closed at $240.60.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BA shares. Royal Bank Of Canada increased their price objective on Boeing from $265.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Wolfe Research restated an “outperform” rating and set a $275.00 target price on shares of Boeing in a report on Thursday, April 23rd. Vertical Research restated a “buy” rating and set a $281.00 target price on shares of Boeing in a report on Tuesday, January 27th. TD Cowen restated a “buy” rating on shares of Boeing in a report on Wednesday, January 28th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Boeing in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $259.60.

Read Our Latest Stock Analysis on Boeing

Boeing Stock Performance

The business has a fifty day simple moving average of $217.63 and a two-hundred day simple moving average of $218.30. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.18 and a quick ratio of 0.35. The company has a market cap of $180.81 billion, a PE ratio of 111.35 and a beta of 1.21.

Boeing (NYSE:BAGet Free Report) last posted its earnings results on Wednesday, April 22nd. The aircraft producer reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.48. The company had revenue of $22.22 billion for the quarter, compared to analysts’ expectations of $22.15 billion. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.49) EPS. Research analysts anticipate that The Boeing Company will post -0.15 earnings per share for the current year.

Insider Activity

In other news, SVP Ann M. Schmidt sold 6,281 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $243.37, for a total transaction of $1,528,606.97. Following the completion of the sale, the senior vice president owned 13,978 shares in the company, valued at approximately $3,401,825.86. This represents a 31.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mortimer J. Buckley acquired 2,230 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average price of $224.20 per share, with a total value of $499,966.00. Following the acquisition, the director owned 4,430 shares in the company, valued at approximately $993,206. The trade was a 101.36% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Boeing

Several hedge funds and other institutional investors have recently made changes to their positions in BA. Measured Wealth Private Client Group LLC purchased a new stake in shares of Boeing during the 3rd quarter valued at $25,000. Strive Financial Group LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $25,000. Ares Financial Consulting LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $26,000. CrossGen Wealth LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $26,000. Finally, Strategic Wealth Advisors LLC purchased a new stake in shares of Boeing during the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

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Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

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