Boeing (NYSE:BA) Shares Down 1% – Should You Sell?

The Boeing Company (NYSE:BA) shares traded down 1% during mid-day trading on Tuesday . The stock traded as low as $213.63 and last traded at $215.23. 2,191,786 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 9,215,140 shares. The stock had previously closed at $217.51.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Boeing in a research note on Thursday, May 22nd. Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a research report on Thursday, May 22nd. Jefferies Financial Group boosted their target price on shares of Boeing from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Royal Bank of Canada boosted their price objective on Boeing from $200.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Benchmark lowered their price target on shares of Boeing from $250.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.35.

Boeing Stock Down 1.2%

The company has a 50 day simple moving average of $183.57 and a 200-day simple moving average of $175.53. The stock has a market capitalization of $161.99 billion, a price-to-earnings ratio of -11.73 and a beta of 1.43.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.57 billion. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.13) EPS. As a group, sell-side analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total transaction of $650,198.35. Following the sale, the executive vice president now owns 20,513 shares of the company’s stock, valued at approximately $4,161,472.31. This trade represents a 13.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the transaction, the senior vice president now owns 13,258 shares of the company’s stock, valued at $2,734,860.24. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,744 shares of company stock valued at $1,511,370. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Monetary Management Group Inc. raised its holdings in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after purchasing an additional 50 shares during the last quarter. Anchor Investment Management LLC raised its holdings in shares of Boeing by 0.9% during the first quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer’s stock worth $923,000 after purchasing an additional 50 shares during the period. Heritage Financial Services LLC increased its stake in Boeing by 4.2% during the 1st quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer’s stock valued at $216,000 after buying an additional 51 shares during the period. Wood Tarver Financial Group LLC lifted its holdings in Boeing by 14.3% in the 1st quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer’s stock valued at $75,000 after acquiring an additional 55 shares during the last quarter. Finally, Keynote Financial Services LLC increased its stake in Boeing by 3.8% in the 4th quarter. Keynote Financial Services LLC now owns 1,542 shares of the aircraft producer’s stock worth $273,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

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.