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

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

Wall Street Analysts Forecast Growth

BA has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Susquehanna decreased their target price 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Stock Up 4.1 %

The firm’s 50 day simple moving average is $151.70 and its 200 day simple moving average is $168.42. The company has a market capitalization of $92.28 billion, a PE ratio of -11.57 and a beta of 1.57.

Boeing (NYSE:BA) last posted 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 the consensus estimate of $17.81 billion. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) earnings per share. As a group, sell-side analysts predict that The Boeing Company will post -16.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the last quarter. State Street Corp lifted its position in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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.