Boeing (NYSE:BA) Stock Price Down 0.3% – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price dropped 0.3% during mid-day trading on Thursday . The stock traded as low as $170.31 and last traded at $172.07. Approximately 1,406,016 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 8,583,545 shares. The stock had previously closed at $172.62.

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price target on Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a report on Monday. StockNews.com upgraded shares of Boeing to a “sell” rating in a research note on Wednesday, March 12th. Citigroup upped their price target on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, UBS Group upped their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $195.68.

Boeing Price Performance

The stock has a market cap of $129.44 billion, a P/E ratio of -9.43 and a beta of 1.53. The business’s fifty day moving average price is $172.84 and its 200 day moving average price is $163.47.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the company earned ($0.47) EPS. On average, analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Boeing

In related news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sierra Ocean LLC bought a new position in Boeing during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new position in Boeing during the 4th quarter worth approximately $27,000. RPg Family Wealth Advisory LLC bought a new position in Boeing during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in Boeing during the 4th quarter worth approximately $28,000. Finally, HighMark Wealth Management LLC raised its holdings in Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after purchasing an additional 90 shares during the last quarter. 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.