Boeing (NYSE:BA) Shares Down 0.6% After Insider Selling

The Boeing Company (NYSE:BA)’s stock price dropped 0.6% during trading on Friday following insider selling activity. The stock traded as low as $203.02 and last traded at $204.98. Approximately 3,563,707 shares traded hands during mid-day trading, a decline of 61% from the average daily 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 business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the completion of the sale, the executive vice president now owns 20,513 shares in the company, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BA. StockNews.com lowered Boeing from a “hold” rating to a “sell” rating in a report on Saturday. Melius Research set a $204.00 price target on Boeing in a report on Monday, March 24th. JPMorgan Chase & Co. boosted their price target on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. UBS Group boosted their price target on Boeing from $207.00 to $226.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, Benchmark lowered their price target on Boeing from $250.00 to $215.00 and set a “buy” rating for the company in a report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.35.

Boeing Stock Down 0.2%

The business has a 50-day moving average price of $171.81 and a 200-day moving average price of $168.65. The firm has a market capitalization of $155.23 billion, a price-to-earnings ratio of -11.24 and a beta of 1.41.

Boeing (NYSE:BA) last issued its quarterly 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 business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.13) earnings per share. On average, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

Several hedge funds have recently made changes to their positions in BA. Vanguard Group Inc. increased its position in shares of Boeing by 24.4% in the 4th quarter. Vanguard Group Inc. now owns 64,442,717 shares of the aircraft producer’s stock valued at $11,406,361,000 after acquiring an additional 12,641,715 shares during the period. Geode Capital Management LLC boosted its holdings in Boeing by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer’s stock valued at $2,677,170,000 after purchasing an additional 3,452,075 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Boeing in the fourth quarter valued at $568,000. Alyeska Investment Group L.P. purchased a new stake in Boeing in the fourth quarter valued at $526,889,000. Finally, Zimmer Partners LP purchased a new stake in Boeing in the fourth quarter valued at $393,736,000. 64.82% of the stock is owned by institutional investors and hedge funds.

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.