The Boeing Company (NYSE:BA – Get Free Report)’s stock price dropped 0% during mid-day trading on Wednesday . The company traded as low as $186.53 and last traded at $188.60. Approximately 1,195,522 shares were traded during trading, a decline of 87% from the average daily volume of 8,907,201 shares. The stock had previously closed at $188.62.
Analysts Set New Price Targets
BA has been the subject of a number of research reports. Melius Research reiterated a “hold” rating on shares of Boeing in a report on Monday, April 1st. JPMorgan Chase & Co. decreased their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft decreased their target price on Boeing from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Finally, Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.89.
Boeing Stock Up 0.7 %
The company has a 50 day moving average of $177.83 and a two-hundred day moving average of $204.36. The firm has a market cap of $116.61 billion, a P/E ratio of -53.13 and a beta of 1.55.
Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. Research analysts expect that The Boeing Company will post -1.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Boeing
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont lifted its position in shares of Boeing by 1.0% in the third quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock valued at $841,000 after buying an additional 45 shares during the last quarter. Benchmark Financial Wealth Advisors LLC lifted its holdings in Boeing by 2.7% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock worth $465,000 after purchasing an additional 47 shares during the last quarter. WealthPlan Investment Management LLC lifted its holdings in Boeing by 1.0% during the 4th quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock worth $1,229,000 after purchasing an additional 49 shares during the last quarter. RB Capital Management LLC lifted its holdings in Boeing by 2.7% during the 3rd quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock worth $363,000 after purchasing an additional 50 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its holdings in Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds 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.