Boeing (NYSE:BA) Shares Down 1.2% – Should You Sell?

The Boeing Company (NYSE:BA) shares were down 1.2% on Monday . The company traded as low as $174.64 and last traded at $175.21. Approximately 2,706,179 shares traded hands during trading, a decline of 71% from the average daily volume of 9,340,104 shares. The stock had previously closed at $177.35.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group dropped 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. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. UBS Group dropped their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Trading Down 0.5 %

The firm has a market cap of $109.11 billion, a P/E ratio of -13.68 and a beta of 1.56. The stock has a 50 day simple moving average of $155.10 and a 200-day simple moving average of $165.90.

Boeing (NYSE:BA) last released 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 company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.26) earnings per share. As a group, equities analysts forecast that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

Several large investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the 3rd quarter worth about $28,000. Cedar Wealth Management LLC bought a new stake in Boeing during the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the second quarter valued at about $33,000. Strategic Financial Concepts LLC bought a new position in Boeing in the second quarter worth about $41,000. Finally, Planning Capital Management Corp lifted its position in shares of Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 289 shares during the last quarter. 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.