Boeing (NYSE:BA) Shares Down 0% – Here’s Why

Shares of The Boeing Company (NYSE:BA) dropped 0% during trading on Wednesday . The stock traded as low as $173.88 and last traded at $175.55. Approximately 1,726,580 shares changed hands during trading, a decline of 78% from the average daily volume of 7,686,167 shares. The stock had previously closed at $175.56.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group decreased their price objective 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. Susquehanna cut their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company reduced their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Trading Down 0.5 %

The stock has a market cap of $108.02 billion, a P/E ratio of -13.54 and a beta of 1.52. The business’s fifty day simple moving average is $164.20 and its 200 day simple moving average is $164.46.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted ($3.26) earnings per share. On average, analysts predict that The Boeing Company will post -16.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boeing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased 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 valued at $358,000 after purchasing an additional 710 shares in the last quarter. Carnegie Investment Counsel increased its position in shares of Boeing by 175.6% in the 4th 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 in the last quarter. Rockefeller Capital Management L.P. raised its stake in Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares during the period. Principal Financial Group Inc. lifted its holdings in Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares during the period. 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.