Boeing (NYSE:BA) Shares Down 0.1% Following Analyst Downgrade

The Boeing Company (NYSE:BA) shares fell 0.1% during mid-day trading on Monday after Citigroup lowered their price target on the stock from $209.00 to $207.00. Citigroup currently has a buy rating on the stock. Boeing traded as low as $175.55 and last traded at $175.90. 1,982,098 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 7,604,622 shares. The stock had previously closed at $176.06.

BA has been the subject of a number of other reports. TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. UBS Group lowered their target price 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 boosted their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Finally, Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.11.

Hedge Funds Weigh In On Boeing

Several large investors have recently bought and sold shares of the business. State Street Corp lifted its position in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares during the period. Jennison Associates LLC grew its stake in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Fisher Asset Management LLC increased its position in Boeing by 6.0% during the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after buying an additional 277,350 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Boeing by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock valued at $486,018,000 after buying an additional 48,637 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

The company has a market cap of $108.24 billion, a PE ratio of -13.57 and a beta of 1.52. The stock has a 50 day simple moving average of $166.42 and a two-hundred day simple moving average of $164.29.

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.