Boeing (NYSE:BA) Stock Price Down 1.6% – Time to Sell?

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Finally, Jefferies Financial Group dropped their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Up 0.2 %

The stock has a 50 day simple moving average of $161.39 and a 200 day simple moving average of $165.25. The company has a market capitalization of $106.38 billion, a price-to-earnings ratio of -13.34 and a beta of 1.52.

Boeing (NYSE:BA) last announced its 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 during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm posted ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts forecast that The Boeing Company will post -16.18 EPS for the current year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently made changes to their positions in BA. Newport Trust Company LLC increased its stake in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. State Street Corp boosted its holdings in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares during the period. Geode Capital Management LLC increased its position in shares of Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Boeing by 9.9% in the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.