Boeing (NYSE:BA) Shares Down 0.1% on Analyst Downgrade

The Boeing Company (NYSE:BA - Get Free Report)'s stock price dropped 0.1% during mid-day trading on Monday after Citigroup lowered their price target on the stock from $209.00 to $207.00. Citigroup currently has a buy rating on the stock. Boeing traded as low as $175.55 and last traded at $175.90. Approximately 1,982,098 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 7,604,622 shares. The stock had previously closed at $176.06.

Several other analysts have also commented on BA. UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $195.00 to $190.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Wells Fargo & Company dropped their target price on shares of Boeing from $86.00 to $85.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Finally, Northcoast Research raised shares of Boeing from a "sell" rating to a "neutral" rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.11.

Institutional Investors Weigh In On Boeing

Several hedge funds have recently modified their holdings of the company. State Street Corp increased its holdings in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer's stock worth $4,223,397,000 after acquiring an additional 636,594 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer's stock worth $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Jennison Associates LLC raised its position in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer's stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Boeing by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer's stock worth $739,957,000 after purchasing an additional 277,350 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Boeing by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer's stock worth $486,018,000 after buying an additional 48,637 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

The company has a 50 day simple moving average of $166.42 and a 200 day simple moving average of $164.29. The company has a market capitalization of $108.24 billion, a PE ratio of -13.57 and a beta of 1.52.

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.