Boeing (NYSE:BA) Trading Down 1.6% - Here's What Happened

The Boeing Company (NYSE:BA - Get Free Report) dropped 1.6% on Friday . The company traded as low as $168.55 and last traded at $168.94. Approximately 1,953,247 shares were traded during trading, a decline of 76% from the average daily volume of 7,984,116 shares. The stock had previously closed at $171.76.

Analysts Set New Price Targets

BA has been the subject of several research analyst reports. Citigroup decreased their target price on shares of Boeing from $224.00 to $209.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a "buy" rating for the company in a report on Monday, September 23rd. Benchmark reissued a "buy" rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. DZ Bank lowered Boeing from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. Finally, Robert W. Baird reduced their price objective on shares of Boeing from $240.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.21.

Boeing Stock Performance

The firm has a 50 day moving average of $161.39 and a 200-day moving average of $165.32. The stock has a market capitalization of $106.38 billion, a PE ratio of -13.34 and a beta of 1.52.

Boeing (NYSE:BA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.26) EPS. On average, sell-side analysts predict that The Boeing Company will post -16.18 earnings per share for the current year.

Institutional Investors Weigh In On Boeing

Several institutional investors have recently made changes to their positions in the company. West Oak Capital LLC acquired a new position in Boeing during the fourth quarter worth $442,000. Graypoint LLC increased its holdings in shares of Boeing by 36.3% during the 4th quarter. Graypoint LLC now owns 2,612 shares of the aircraft producer's stock valued at $462,000 after acquiring an additional 696 shares during the last quarter. RMR Wealth Builders bought a new position in shares of Boeing in the 4th quarter valued at approximately $333,000. Atlas Brown Inc. lifted its holdings in Boeing by 8.8% in the 4th quarter. Atlas Brown Inc. now owns 6,740 shares of the aircraft producer's stock worth $1,193,000 after purchasing an additional 543 shares during the last quarter. Finally, HBW Advisory Services LLC bought a new stake in Boeing during the fourth quarter worth approximately $264,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Company Profile

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.