Boeing Co. (NYSE:BA) shares are declining on Monday as traders lean defensive in a mixed tape and keep pressure on industrial names, down 0.68%.
The Nasdaq is down 0.06% while the S&P 500 has gained 0.10%, and Industrials (XLI) are slipping 0.16%—a backdrop that helps explain why BA is lagging even with the broader market close to flat.
Boeing, U.S. Navy Complete First MQ-25A Test Flight
Separately, Boeing and the U.S. Navy said Monday they completed the first operational test flight of the MQ-25A Stingray, advancing the program toward carrier deployment.
The unmanned aircraft autonomously taxied, took off, flew, and landed during the two-hour mission while responding to ground control commands. The flight validated navigation, control systems, and integration with the Navy’s mission control station.
The MQ-25A is designed to provide aerial refueling, extending the range of carrier air wings and allowing F/A-18 Super Hornets to focus on strike roles. More test flights are planned before carrier qualification testing in Maryland.
Earnings & Analyst Outlook
The company last week reported a strong start to the year, posting first-quarter revenue of $22.22 billion, up 14% from a year earlier and ahead of the $21.78 billion consensus estimate.
Adjusted loss per share narrowed to 20 cents, beating expectations for an 84-cent loss, while GAAP loss per share was 11 cents.
Chief Executive Officer Kelly Ortberg said the company is building on its momentum, citing a growing, record backlog and continued support for customer missions such as Artemis II.
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $274.00. Recent analyst moves include:
- Morgan Stanley: Equal-Weight (Raises Target to $250.00) (April 23)
- Citigroup: Buy (Lowers Target to $256.00) (April 2)
- Wells Fargo: Initiated with Overweight (Target $250.00) (April 1)
Top ETF Exposure
- iShares U.S. Aerospace & Defense ETF (BATS:ITA): 8.91% Weight
- Invesco Aerospace & Defense ETF (NYSE:PPA): 8.00% Weight
- VanEck Preferred Securities ex Financials ETF (NYSE:PFXF): 9.90% Weight
BA Stock Price Activity: Boeing shares were down 0.67% at $230.88 at the time of publication on Monday, according to Benzinga Pro data.
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