Boeing Company (The) (NYSE:BA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Boeing’s second-quarter 2017 earnings surpassed the Zacks Consensus Estimate. However, revenues missed the consensus mark and also declined year over year. On the brighter note, backlog at the end of the quarter increased sequentially. Also, the company raised its earnings per share expectation for 2017. In fact, Boeing is considered to be the largest aircraft manufacturer in the world in terms of revenue, orders and deliveries, and one of the largest aerospace and defense contractors as well. Meanwhile, demand for its commercial airplanes is on the rise owing to a steady improvement in passenger and freight traffic. Consequently, Boeing’s share price has outperformed the broader industry price over the last one year. However, the company continues to face challenges from the uncertain fate of high-cost programs, order cancellations, stiff competition as well as falling delivery numbers.”

Other equities research analysts have also recently issued reports about the company. Cowen and Company upped their price objective on Boeing Company (The) from $9.80 to $300.00 in a research note on Wednesday, July 26th. TheStreet upgraded Boeing Company (The) from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th. Gabelli restated a “buy” rating on shares of Boeing Company (The) in a research note on Friday, April 7th. Vetr upgraded Boeing Company (The) from a “hold” rating to a “buy” rating and set a $183.96 price objective for the company in a research note on Wednesday, April 12th. Finally, Deutsche Bank AG upped their price objective on Boeing Company (The) from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $227.80.

Boeing Company (NYSE BA) traded down 0.23% during trading on Friday, reaching $237.71. The company’s stock had a trading volume of 5,590,535 shares. Boeing Company has a 12-month low of $126.31 and a 12-month high of $246.49. The company has a market capitalization of $140.51 billion, a P/E ratio of 20.83 and a beta of 1.16. The firm’s 50-day moving average price is $207.88 and its 200 day moving average price is $185.18.

Boeing Company (The) (NYSE:BA) last issued its earnings results on Wednesday, July 26th. The aircraft producer reported $2.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.23. Boeing Company (The) had a return on equity of 2,185.10% and a net margin of 7.84%. The business had revenue of $22.74 billion during the quarter, compared to analysts’ expectations of $22.97 billion. During the same period in the prior year, the business earned ($0.44) EPS. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, analysts predict that Boeing Company will post $9.95 earnings per share for the current fiscal year.

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In related news, SVP Robert E. Verbeck sold 2,522 shares of Boeing Company (The) stock in a transaction on Monday, July 31st. The stock was sold at an average price of $244.45, for a total value of $616,502.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Dennis A. Muilenburg sold 56,838 shares of Boeing Company (The) stock in a transaction on Monday, July 31st. The shares were sold at an average price of $243.46, for a total value of $13,837,779.48. Following the completion of the transaction, the chairman now owns 127,778 shares of the company’s stock, valued at $31,108,831.88. The disclosure for this sale can be found here. Insiders sold 83,334 shares of company stock valued at $20,321,493 over the last ninety days. Insiders own 0.28% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Boeing Company (The) by 0.3% in the first quarter. State Street Corp now owns 28,433,353 shares of the aircraft producer’s stock worth $5,028,731,000 after buying an additional 87,850 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Boeing Company (The) by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,066,519 shares of the aircraft producer’s stock worth $606,405,000 after buying an additional 123,420 shares during the period. LSV Asset Management increased its stake in shares of Boeing Company (The) by 4.9% in the first quarter. LSV Asset Management now owns 2,985,054 shares of the aircraft producer’s stock worth $527,936,000 after buying an additional 138,170 shares during the period. Bank of Montreal Can increased its stake in shares of Boeing Company (The) by 30.6% in the first quarter. Bank of Montreal Can now owns 2,968,297 shares of the aircraft producer’s stock worth $524,974,000 after buying an additional 694,658 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Boeing Company (The) by 9.3% in the second quarter. Legal & General Group Plc now owns 2,906,822 shares of the aircraft producer’s stock worth $574,841,000 after buying an additional 246,578 shares during the period. Hedge funds and other institutional investors own 72.99% of the company’s stock.

Boeing Company (The) Company Profile

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

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Analyst Recommendations for Boeing Company (The) (NYSE:BA)

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