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

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Susquehanna decreased their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, TD Cowen decreased their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Price Performance

The company has a market capitalization of $92.28 billion, a price-to-earnings ratio of -11.57 and a beta of 1.57. The stock has a fifty day simple moving average of $151.70 and a 200-day simple moving average of $168.42.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BA. RPg Family Wealth Advisory LLC acquired a new position in Boeing in the 3rd quarter valued at $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing in the 2nd quarter valued at $33,000. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter valued at $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boeing by 351.1% in the 2nd 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 in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.