Boeing (NYSE:BA) Shares Down 0.4%

The Boeing Company (NYSE:BA)’s stock price was down 0.4% during mid-day trading on Friday . The company traded as low as $169.57 and last traded at $171.53. Approximately 3,662,633 shares traded hands during trading, a decline of 60% from the average daily volume of 9,109,616 shares. The stock had previously closed at $172.21.

Analyst Ratings Changes

BA has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. StockNews.com cut shares of Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. TD Cowen cut their price target on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, March 25th. Wells Fargo & Company decreased their price objective on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Finally, Susquehanna reiterated a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $221.24.

Boeing Stock Performance

The company’s 50-day moving average price is $179.01 and its 200 day moving average price is $205.53. The stock has a market cap of $107.13 billion, a PE ratio of -49.16 and a beta of 1.54.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. On average, sell-side analysts anticipate that The Boeing Company will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boeing

A number of institutional investors have recently bought and sold shares of BA. Capital Research Global Investors raised its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares during the period. Jennison Associates LLC purchased a new stake in Boeing in the 4th quarter worth approximately $960,397,000. Wellington Management Group LLP raised its stake in Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after acquiring an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Boeing by 861.6% in the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock worth $467,338,000 after purchasing an additional 1,617,151 shares during the period. 64.82% of the stock is owned by 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.