Boeing (NYSE:BA) Hits New 1-Year Low – Here’s What Happened

The Boeing Company (NYSE:BA)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $132.79 and last traded at $140.42, with a volume of 8482482 shares traded. The stock had previously closed at $150.91.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BA. Melius Research set a $204.00 price objective on shares of Boeing in a research note on Monday, March 24th. UBS Group increased their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Finally, Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $196.10.

Boeing Price Performance

The firm has a 50-day simple moving average of $172.36 and a 200 day simple moving average of $164.22. The company has a market capitalization of $102.47 billion, a PE ratio of -7.46 and a beta of 1.53.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the business earned ($0.47) earnings per share. Equities research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In related news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Boeing

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Boeing by 24.4% during the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock worth $11,406,361,000 after acquiring an additional 12,641,715 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Boeing by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Northern Trust Corp grew its stake in Boeing by 33.6% in the fourth quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer’s stock worth $1,151,316,000 after purchasing an additional 1,634,231 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after buying an additional 164,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Boeing by 30.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after buying an additional 981,796 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other 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.