Why Boeing Shares Are Trading Lower Today

Boeing Co BA shares are trading lower by 3% at $231.13 Tuesday morning after the company announced a cut in 787 production levels and said it expects to deliver fewer than half of its 787s currently in inventory this year.

Despite the news of the 787 production cut, Wolfe Research analyst Hunter Keay upgraded Boeing from Underperform to Peer Perform.

Boeing is a major aerospace and defense firm. With headquarters in Chicago, the firm operates in four segments, commercial airplanes, defense, space & security, global services, and Boeing capital.

Boeing has a 52-week high of $278.57 and a 52-week low of $141.58.