Boeing (NYSE:BA) Stock Price Down 4% – Time to Sell?

The Boeing Company (NYSE:BA)’s share price was down 4% during trading on Wednesday . The company traded as low as $144.13 and last traded at $145.03. Approximately 13,550,764 shares were traded during mid-day trading, an increase of 52% from the average daily volume of 8,911,745 shares. The stock had previously closed at $151.00.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BA shares. Susquehanna decreased their price target on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. UBS Group decreased their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Finally, Robert W. Baird reduced their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $190.37.

Boeing Price Performance

The company has a market cap of $90.99 billion, a PE ratio of -11.41 and a beta of 1.57. The stock’s 50-day moving average is $156.17 and its 200 day moving average is $170.60.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the firm earned ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts expect that The Boeing Company will post -16.13 EPS for the current year.

Hedge Funds Weigh In On Boeing

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Madison Park Capital Advisors LLC increased its position in Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares during the period. Wealth Alliance Advisory Group LLC increased its holdings in shares of Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after acquiring an additional 60 shares during the period. Angeles Wealth Management LLC raised its position in Boeing by 4.2% in the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the last quarter. IMS Capital Management boosted its stake in Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after purchasing an additional 62 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in Boeing by 0.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after purchasing an additional 65 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.