Boeing (NYSE:BA) Shares Down 2.5% – Time to Sell?

Shares of The Boeing Company (NYSE:BA) traded down 2.5% during mid-day trading on Thursday . The stock traded as low as $141.34 and last traded at $142.47. 2,928,310 shares changed hands during trading, a decline of 68% from the average session volume of 9,156,987 shares. The stock had previously closed at $146.08.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Citigroup decreased their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Performance

The stock has a fifty day moving average of $152.22 and a 200 day moving average of $168.79. The company has a market capitalization of $88.72 billion, a PE ratio of -11.04 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned ($3.26) EPS. As a group, equities analysts predict that The Boeing Company will post -16.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BA. RPg Family Wealth Advisory LLC bought a new stake in Boeing in the third quarter worth $28,000. Cedar Wealth Management LLC bought a new stake in Boeing in the third quarter worth $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing in the second quarter worth $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing in the second quarter worth $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

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.