Boeing (NYSE:BA) Stock Price Down 2.9% - Should You Sell?

The Boeing Company (NYSE:BA - Get Free Report)'s share price dropped 2.9% during trading on Thursday . The stock traded as low as $154.06 and last traded at $156.23. Approximately 2,920,089 shares changed hands during trading, a decline of 68% from the average daily volume of 8,990,079 shares. The stock had previously closed at $160.82.

Analysts Set New Price Targets

Several equities analysts have issued reports on BA shares. Deutsche Bank Aktiengesellschaft boosted their price target on Boeing from $184.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on shares of Boeing from $103.00 to $113.00 and gave the company an "underweight" rating in a research note on Monday, March 17th. UBS Group increased their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Barclays raised Boeing from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Finally, Susquehanna raised their price objective on Boeing from $200.00 to $205.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $196.10.

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Boeing Stock Up 1.5 %

The stock has a 50-day moving average of $168.68 and a 200-day moving average of $164.00. The company has a market cap of $119.45 billion, a PE ratio of -8.69 and a beta of 1.24.

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

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Institutional Trading of Boeing

A number of institutional investors have recently modified their holdings of BA. AdvisorNet Financial Inc lifted 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 acquiring an additional 710 shares during the period. Carnegie Investment Counsel increased its position in shares of Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer's stock valued at $818,000 after buying an additional 2,943 shares during the period. Principal Financial Group Inc. raised its stake in Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer's stock worth $101,296,000 after buying an additional 38,332 shares in the last quarter. World Investment Advisors LLC boosted its position in Boeing by 243.4% during the 3rd 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 grew its holdings in shares of Boeing by 473.6% during the 4th 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. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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.