Boeing (NYSE:BA) Shares Down 1.4% – Should You Sell?

The Boeing Company (NYSE:BA)’s stock price dropped 1.4% on Monday . The stock traded as low as $149.50 and last traded at $149.54. Approximately 2,949,846 shares were traded during trading, a decline of 67% from the average daily volume of 8,996,328 shares. The stock had previously closed at $151.68.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BA. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. 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 research note on Thursday, October 3rd. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Finally, Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Trading Down 3.6 %

The business has a 50-day simple moving average of $154.49 and a two-hundred day simple moving average of $170.11.

Boeing (NYSE:BA) last released its quarterly earnings data 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.26) EPS. Equities analysts forecast that The Boeing Company will post -16.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Madison Park Capital Advisors LLC grew its stake in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after acquiring an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC increased its holdings in shares of Boeing by 1.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC raised its position in shares of Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after buying an additional 61 shares in the last quarter. IMS Capital Management boosted its stake in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after buying an additional 62 shares during the period. Finally, ADE LLC grew its position in Boeing by 4.4% during the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock worth $280,000 after buying an additional 65 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

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.