Citizens Financial Group Inc. RI Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Key Points

• Citizens Financial Group Inc. RI reduced its holdings in Boeing by 36.0%, owning 6,232 shares valued at over $1 million after selling 3,498 shares in the first quarter.
• Boeing reported a quarterly revenue of $22.75 billion, exceeding estimates, although it posted a loss of ($1.24) EPS, missing expectations by ($0.32).
• Analysts maintain a consensus rating of "Moderate Buy" for Boeing, with target prices ranging from $212 to $280, reflecting positive outlooks despite recent earnings misses.

Citizens Financial Group Inc. RI lowered its position in The Boeing Company (NYSE:BA - Free Report) by 36.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,232 shares of the aircraft producer's stock after selling 3,498 shares during the period. Citizens Financial Group Inc. RI's holdings in Boeing were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. bought a new stake in shares of Boeing in the 1st quarter valued at about $193,000. Primecap Management Co. CA increased its holdings in shares of Boeing by 17.9% during the first quarter. Primecap Management Co. CA now owns 376,420 shares of the aircraft producer's stock valued at $64,198,000 after acquiring an additional 57,120 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Boeing by 17.9% during the first quarter. Hemington Wealth Management now owns 567 shares of the aircraft producer's stock valued at $96,000 after acquiring an additional 86 shares in the last quarter. Fi3 FINANCIAL ADVISORS LLC lifted its holdings in shares of Boeing by 11.3% during the first quarter. Fi3 FINANCIAL ADVISORS LLC now owns 2,112 shares of the aircraft producer's stock worth $360,000 after purchasing an additional 215 shares during the period. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in shares of Boeing by 229.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 4,479 shares of the aircraft producer's stock worth $764,000 after purchasing an additional 3,120 shares during the period. Institutional investors own 64.82% of the company's stock.

Boeing Trading Up 0.8%

NYSE:BA traded up $1.75 during mid-day trading on Friday, hitting $229.08. The stock had a trading volume of 4,716,407 shares, compared to its average volume of 7,343,935. The stock has a 50-day simple moving average of $217.39 and a two-hundred day simple moving average of $190.57. The company has a market capitalization of $173.22 billion, a PE ratio of -13.88 and a beta of 1.48. The Boeing Company has a twelve month low of $128.88 and a twelve month high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion for the quarter, compared to analysts' expectations of $20.13 billion. The firm's quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business posted ($2.90) earnings per share. Sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, SVP Brendan J. Nelson sold 640 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $206.28, for a total transaction of $132,019.20. Following the sale, the senior vice president owned 13,258 shares of the company's stock, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey S. Shockey sold 3,205 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $202.87, for a total value of $650,198.35. Following the sale, the executive vice president directly owned 20,513 shares in the company, valued at $4,161,472.31. This trade represents a 13.51% decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Boeing in a report on Thursday, May 22nd. Wall Street Zen cut Boeing from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Barclays lifted their price objective on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. TD Securities downgraded shares of Boeing to a "cautious" rating in a report on Thursday, May 22nd. Finally, Benchmark decreased their target price on shares of Boeing from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of "Moderate Buy" and an average target price of $228.90.

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.