Boeing (NYSE:BA) Shares Down 0.3% - Here's Why

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com raised shares of Boeing to a "sell" rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lifted their price target on shares of Boeing from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Barclays raised shares of Boeing from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Susquehanna lifted their target price on Boeing from $200.00 to $205.00 and gave the stock a "positive" rating in a research report on Wednesday, January 29th. Finally, Northcoast Research raised Boeing from a "sell" rating to a "neutral" rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.68.

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Boeing Stock Up 2.4 %

The company has a market capitalization of $136.76 billion, a price-to-earnings ratio of -9.95 and a beta of 1.53. The stock has a 50 day simple moving average of $172.98 and a 200 day simple moving average of $163.59.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the business posted ($0.47) earnings per share. As a group, analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insider Transactions at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares of the company's stock, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

Institutional Trading of Boeing

Large investors have recently added to or reduced their stakes in the business. Sierra Ocean LLC bought a new stake in shares of Boeing during the fourth quarter valued at about $26,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Boeing in the 4th quarter worth approximately $27,000. Fiduciary Advisors Inc. bought a new position in shares of Boeing in the fourth quarter valued at approximately $28,000. HighMark Wealth Management LLC increased its stake in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock valued at $29,000 after acquiring an additional 90 shares during the period. Finally, REAP Financial Group LLC raised its holdings in Boeing by 60.2% during the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock worth $31,000 after purchasing an additional 65 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

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.