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

The Boeing Company (NYSE:BA - Get Free Report) fell 2.7% 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. 1,935,706 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 8,690,816 shares. The stock had previously closed at $161.90.

Other analysts have also recently issued reports about the stock. Melius Research set a $204.00 price target on shares of Boeing in a research note on Monday, March 24th. Melius upgraded Boeing from a "hold" rating to a "buy" rating in a research note on Monday, March 24th. StockNews.com raised Boeing to a "sell" rating in a report on Saturday, April 5th. Citigroup increased their price target on Boeing from $207.00 to $210.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.11.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.09% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BA. AdvisorNet Financial Inc increased its stake in Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer's stock worth $358,000 after purchasing an additional 710 shares during the period. Carnegie Investment Counsel boosted its holdings in Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer's stock worth $818,000 after acquiring an additional 2,943 shares in the last quarter. Principal Financial Group Inc. raised its position in Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer's stock valued at $101,296,000 after acquiring an additional 38,332 shares in the last quarter. World Investment Advisors LLC raised its position in Boeing by 243.4% during the third quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer's stock valued at $818,000 after acquiring an additional 3,814 shares in the last quarter. Finally, Amundi raised its position in Boeing by 473.6% during the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer's stock worth $268,862,000 after acquiring an additional 1,292,417 shares during the period. Hedge funds and other institutional investors own 64.82% of the company's stock.

Boeing Price Performance

The company's fifty day simple moving average is $165.42 and its 200-day simple moving average is $164.23. The firm has a market capitalization of $129.57 billion, a PE ratio of -9.43 and a beta of 1.24.

Boeing (NYSE:BA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. Analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

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.