Boeing (NYSE:BA) Stock Price Down 1.5% on Analyst Downgrade

The Boeing Company (NYSE:BA - Get Free Report)'s stock price was down 1.5% during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $113.00 to $111.00. Wells Fargo & Company currently has an underweight rating on the stock. Boeing traded as low as $155.27 and last traded at $156.84. Approximately 5,268,252 shares changed hands during trading, a decline of 42% from the average daily volume of 9,005,995 shares. The stock had previously closed at $159.28.

BA has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on Boeing from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Susquehanna boosted their price objective on Boeing from $200.00 to $205.00 and gave the company a "positive" rating in a research report on Wednesday, January 29th. Melius Research set a $204.00 target price on Boeing in a research note on Monday, March 24th. StockNews.com upgraded shares of Boeing to a "sell" rating in a report on Saturday, April 5th. Finally, UBS Group raised their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $198.95.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 19,213 shares in the company, valued at $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Boeing

A number of hedge funds have recently made changes to their positions in BA. Sierra Ocean LLC bought a new stake in shares of Boeing during the fourth quarter worth $26,000. American National Bank & Trust increased its holdings in Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after purchasing an additional 128 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in Boeing in the fourth quarter valued at about $27,000. Fiduciary Advisors Inc. acquired a new stake in shares of Boeing during the fourth quarter valued at about $28,000. Finally, HighMark Wealth Management LLC grew its holdings 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 worth $29,000 after purchasing an additional 90 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Up 3.4 %

The company has a 50 day moving average price of $166.41 and a 200-day moving average price of $164.03. The company has a market cap of $121.39 billion, a price-to-earnings ratio of -8.83 and a beta of 1.24.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the business earned ($0.47) earnings per share. On average, analysts forecast that The Boeing Company will post -2.58 EPS for the current fiscal 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.