Wells Fargo & Company Has Lowered Expectations for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA - Get Free Report) had its target price reduced by research analysts at Wells Fargo & Company from $113.00 to $111.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the aircraft producer's stock. Wells Fargo & Company's target price would indicate a potential downside of 31.42% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. UBS Group lifted 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. Susquehanna lifted their price target on Boeing from $200.00 to $205.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Boeing from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Finally, StockNews.com raised shares of Boeing to a "sell" rating in a research report on Saturday, April 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Boeing currently has an average rating of "Moderate Buy" and a consensus target price of $198.95.

Boeing Stock Performance

Shares of NYSE:BA traded up $5.37 during trading hours on Tuesday, hitting $161.84. 9,213,706 shares of the company's stock traded hands, compared to its average volume of 9,054,624. The company's fifty day simple moving average is $166.78 and its two-hundred day simple moving average is $163.98. Boeing has a 52 week low of $128.88 and a 52 week high of $196.95. 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 announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts' consensus estimates of ($1.60) by ($4.30). During the same quarter in the prior year, the business posted ($0.47) earnings per share. On average, analysts anticipate that Boeing will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the business'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 owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.09% of the company's stock.

Hedge Funds Weigh In On Boeing

Several institutional investors have recently modified their holdings of BA. Vanguard Group Inc. lifted its stake in Boeing by 24.4% in the fourth quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer's stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the last quarter. Geode Capital Management LLC raised its position in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Boeing by 33.6% during the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares during the period. Fisher Asset Management LLC raised its holdings in Boeing by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer's stock worth $890,469,000 after purchasing an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Boeing by 30.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer's stock valued at $739,585,000 after purchasing an additional 981,796 shares in the last quarter. Institutional investors own 64.82% of the company's stock.

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.