Boeing (NYSE:BA) Shares Down 2.7% on Analyst Downgrade

by · The Cerbat Gem

The Boeing Company (NYSE:BA – Get Free Report)’s stock price was down 2.7% during trading on Monday after Benchmark lowered their price target on the stock from $250.00 to $215.00. Benchmark currently has a buy rating on the stock. Boeing traded as low as $156.47 and last traded at $157.57. Approximately 1,935,706 shares traded hands during trading, a decline of 78% from the average daily volume of 8,690,816 shares. The stock had previously closed at $161.90.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Citigroup lifted their price target on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. UBS Group increased their price objective on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their target price on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Melius raised Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $197.11.

Read Our Latest Report on Boeing

Insider Buying and Selling

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Boeing in the 3rd quarter valued at $7,544,000. World Investment Advisors LLC grew its stake in Boeing by 243.4% in the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock valued at $818,000 after buying an additional 3,814 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Boeing by 290.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,053 shares of the aircraft producer’s stock valued at $2,593,000 after acquiring an additional 12,680 shares during the period. Tidal Investments LLC lifted its position in Boeing by 2.1% during the third quarter. Tidal Investments LLC now owns 38,230 shares of the aircraft producer’s stock worth $5,812,000 after acquiring an additional 804 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

The company has a market cap of $118.16 billion, a price-to-earnings ratio of -8.60 and a beta of 1.24. The firm has a 50-day moving average price of $166.41 and a 200 day moving average price of $164.21.

Boeing (NYSE:BA – Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the company posted ($0.47) earnings per share. On average, equities analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

About Boeing

(Get Free Report)

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.

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