First Citizens Bank & Trust Co. Sells 2,103 Shares of The Boeing Company (NYSE:BA)

First Citizens Bank & Trust Co. trimmed its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 26.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,796 shares of the aircraft producer's stock after selling 2,103 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Boeing were worth $989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BA. Sierra Ocean LLC bought a new stake in Boeing during the 4th quarter worth approximately $26,000. American National Bank & Trust increased its holdings in shares of Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer's stock worth $26,000 after buying an additional 128 shares during the period. HighMark Wealth Management LLC increased its position in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer's stock valued at $29,000 after buying an additional 90 shares during the period. REAP Financial Group LLC boosted its position in Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer's stock valued at $31,000 after acquiring an additional 65 shares in the last quarter. Finally, Anfield Capital Management LLC boosted its position in shares of Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer's stock valued at $32,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company's stock.

Insider Activity

In related news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the completion of the transaction, the executive vice president now directly owns 42,513 shares in the company, valued at approximately $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $202.87, for a total value of $650,198.35. Following the transaction, the executive vice president now directly owns 20,513 shares of the company's stock, valued at approximately $4,161,472.31. The trade was a 13.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,744 shares of company stock worth $1,511,370 over the last 90 days. Company insiders own 0.09% of the company's stock.

Boeing Trading Down 5.0%

Shares of BA traded down $10.77 during mid-day trading on Thursday, hitting $203.23. The company's stock had a trading volume of 21,816,443 shares, compared to its average volume of 9,309,408. The firm has a 50-day simple moving average of $186.41 and a 200 day simple moving average of $176.08. The firm has a market capitalization of $153.24 billion, a P/E ratio of -11.09 and a beta of 1.43. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $218.80.

Boeing (NYSE:BA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. During the same quarter in the prior year, the firm earned ($1.13) EPS. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on BA shares. Morgan Stanley reissued an "equal weight" rating on shares of Boeing in a research note on Thursday, May 22nd. UBS Group increased their target price on Boeing from $207.00 to $226.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Cowen reaffirmed a "buy" rating on shares of Boeing in a research report on Wednesday, May 7th. Royal Bank of Canada boosted their price objective on Boeing from $200.00 to $230.00 and gave the company an "outperform" rating in a research report on Monday. Finally, TD Securities cut Boeing to a "cautious" rating in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average price target of $209.35.

Boeing 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.