Boeing (NYSE:BA) Stock Price Down 0.6% Following Insider Selling

The Boeing Company (NYSE:BA)’s stock price traded down 0.6% on Friday following insider selling activity. The stock traded as low as $203.02 and last traded at $204.98. 3,563,707 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 9,183,332 shares. The stock had previously closed at $206.24.

Specifically, EVP Jeffrey S. Shockey sold 3,205 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the transaction, the executive vice president now owns 20,513 shares in the company, valued at $4,161,472.31. This represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BA shares. Cowen reiterated a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. Susquehanna reiterated a “positive” rating and set a $240.00 target price (up previously from $205.00) on shares of Boeing in a research note on Wednesday. Wells Fargo & Company reissued an “underweight” rating and set a $140.00 price target (up from $111.00) on shares of Boeing in a report on Wednesday, April 23rd. Melius Research set a $204.00 price target on shares of Boeing in a report on Monday, March 24th. Finally, UBS Group increased their price target on shares of Boeing from $207.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $204.35.

Boeing Stock Performance

The company has a market cap of $155.23 billion, a price-to-earnings ratio of -11.24 and a beta of 1.41. The business’s 50 day moving average price is $171.81 and its 200-day moving average price is $168.55.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the business earned ($1.13) EPS. On average, equities research analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc lifted its stake in Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after buying an additional 710 shares in the last quarter. Carnegie Investment Counsel lifted its stake in Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after buying an additional 2,943 shares in the last quarter. Amundi lifted its stake in Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock valued at $268,862,000 after buying an additional 1,292,417 shares in the last quarter. KKM Financial LLC lifted its stake in Boeing by 50.8% in the fourth quarter. KKM Financial LLC now owns 15,368 shares of the aircraft producer’s stock valued at $2,720,000 after buying an additional 5,175 shares in the last quarter. Finally, Grant Private Wealth Management Inc bought a new position in Boeing in the fourth quarter valued at approximately $903,000. 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.