Shares of The Boeing Company (NYSE:BA – Get Free Report) dropped 2% on Wednesday . The stock traded as low as $206.42 and last traded at $206.6150. 4,274,030 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 6,612,320 shares. The stock had previously closed at $210.73.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Sanford C. Bernstein initiated coverage on Boeing in a report on Tuesday, August 11th. They issued an “outperform” rating for the company. Robert W. Baird set a $300.00 price target on shares of Boeing in a report on Wednesday, July 29th. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group cut shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Btg Pactual set a $260.00 price objective on shares of Boeing in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average price target of $272.58.
Read Our Latest Stock Analysis on Boeing
Boeing Stock Performance
Boeing (NYSE:BA – Get Free Report) last announced its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). The firm had revenue of $24.56 billion during the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.24) earnings per share. Equities research analysts anticipate that The Boeing Company will post -0.9 EPS for the current fiscal year.
Hedge Funds Weigh In On Boeing
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tortoise Investment Management LLC bought a new stake in Boeing during the second quarter valued at approximately $210,000. Sequoia Financial Advisors LLC raised its position in Boeing by 7.5% in the second quarter. Sequoia Financial Advisors LLC now owns 64,409 shares of the aircraft producer’s stock worth $13,943,000 after acquiring an additional 4,503 shares during the period. National Pension Service boosted its stake in shares of Boeing by 1.0% during the 2nd quarter. National Pension Service now owns 1,666,045 shares of the aircraft producer’s stock worth $360,649,000 after acquiring an additional 17,061 shares during the last quarter. Engineers Gate Manager LP grew its position in shares of Boeing by 71.0% during the 2nd quarter. Engineers Gate Manager LP now owns 281,264 shares of the aircraft producer’s stock valued at $60,885,000 after acquiring an additional 116,818 shares during the period. Finally, Capital Analysts LLC grew its position in shares of Boeing by 1.4% during the 2nd quarter. Capital Analysts LLC now owns 16,856 shares of the aircraft producer’s stock valued at $3,649,000 after acquiring an additional 233 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Boeing Company Profile
The Boeing Company is a global aerospace company that designs, manufactures and services commercial airplanes, military aircraft, satellites, space systems and other aerospace products. Its principal business areas include commercial airplanes, defense and security, and aftermarket services that support aircraft operations throughout their life cycles.
Boeing’s commercial portfolio includes the 737, 767, 777 and 787 families of jetliners, while its defense and space operations provide products and services for the U.S.
Further Reading
- Five stocks we like better than Boeing
- Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model
- Kroger’s Textbook Entry for Buy-and-Hold Investors
- AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window
- Amgen Drops 10% on a Trial It Didn’t Even Run
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.
