Boeing (NYSE:BA) Trading Down 0.4%

The Boeing Company (NYSE:BA) shares fell 0.4% during trading on Tuesday . The company traded as low as $184.46 and last traded at $185.18. 1,160,914 shares were traded during mid-day trading, a decline of 86% from the average session volume of 8,394,832 shares. The stock had previously closed at $185.84.

Analysts Set New Price Targets

BA has been the topic of several recent research reports. Argus cut Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group decreased their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Bank of America boosted their price objective on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $220.89.

Boeing Price Performance

The business’s 50 day moving average price is $181.04 and its 200 day moving average price is $194.23. The stock has a market capitalization of $112.94 billion, a P/E ratio of -52.03 and a beta of 1.56.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. As a group, analysts forecast that The Boeing Company will post -1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently made changes to their positions in BA. Vanguard Group Inc. increased its stake in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Capital Research Global Investors raised its holdings in Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after buying an additional 1,884,850 shares during the last quarter. Northern Trust Corp boosted its stake in Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after buying an additional 52,081 shares during the period. Finally, Jennison Associates LLC increased its position in Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.