Boeing (NYSE:BA) Stock Price Down 0.8% – Time to Sell?

The Boeing Company (NYSE:BA) shares were down 0.8% on Monday . The company traded as low as $170.31 and last traded at $170.59. Approximately 1,425,258 shares changed hands during trading, a decline of 82% from the average daily volume of 7,836,214 shares. The stock had previously closed at $172.00.

Wall Street Analyst Weigh In

BA has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein downgraded 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Price Performance

The company has a market cap of $102.78 billion, a PE ratio of -12.89 and a beta of 1.52. The stock has a fifty day moving average price of $162.02 and a 200-day moving average price of $164.97.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the company posted ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts anticipate that The Boeing Company will post -16.18 earnings per share 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 BA. American Century Companies Inc. grew its holdings in shares of Boeing by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock valued at $8,189,000 after acquiring an additional 7,739 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Boeing by 10.0% in the second quarter. Envestnet Asset Management Inc. now owns 556,361 shares of the aircraft producer’s stock valued at $101,263,000 after purchasing an additional 50,767 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in Boeing by 435.8% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 27,295 shares of the aircraft producer’s stock worth $4,968,000 after purchasing an additional 22,201 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Boeing by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,277,289 shares of the aircraft producer’s stock worth $232,479,000 after purchasing an additional 98,973 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Boeing by 11.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 31,252 shares of the aircraft producer’s stock valued at $5,688,000 after buying an additional 3,101 shares in the last quarter. 64.82% of the stock is 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.