Boeing (NYSE:BA) Shares Down 0.4% – Time to Sell?

The Boeing Company (NYSE:BA)’s share price dropped 0.4% during mid-day trading on Tuesday . The stock traded as low as $158.37 and last traded at $159.20. Approximately 1,710,793 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 8,054,549 shares. The stock had previously closed at $159.82.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BA shares. Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Friday. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. The Goldman Sachs Group lowered their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Company lowered their target price on Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a research note on Monday, October 14th. Finally, Citigroup cut their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.79.

Boeing Stock Performance

The firm has a fifty day moving average price of $161.01 and a 200 day moving average price of $172.28. The company has a market cap of $97.84 billion, a price-to-earnings ratio of -44.85 and a beta of 1.57.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the company earned ($0.82) EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts expect that The Boeing Company will post -5.35 EPS for the current fiscal year.

Institutional Trading of Boeing

Institutional investors have recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the second quarter worth about $33,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the second quarter worth approximately $34,000. McClarren Financial Advisors Inc. raised its position in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in Boeing during the second quarter worth approximately $39,000. 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.