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

First Citizens Bank & Trust Co. lowered its position in The Boeing Company (NYSE:BA) by 26.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,796 shares of the aircraft producer’s stock after selling 2,103 shares during the period. First Citizens Bank & Trust Co.’s holdings in Boeing were worth $989,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sierra Ocean LLC bought a new stake in shares of Boeing in the 4th quarter valued at $26,000. American National Bank & Trust increased its position in shares of Boeing by 474.1% in the 1st quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 128 shares in the last quarter. HighMark Wealth Management LLC increased its position in shares of Boeing by 121.6% in the 4th 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 in the last quarter. REAP Financial Group LLC increased its position in shares of Boeing by 60.2% in the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. Finally, Anfield Capital Management LLC increased its position in shares of Boeing by 113.1% in the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 95 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity

In other Boeing news, EVP Jeffrey S. Shockey sold 3,205 shares of the stock in a transaction dated 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 $4,161,472.31. This represents a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,899 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction 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 represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,744 shares of company stock valued at $1,511,370. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Melius Research set a $204.00 target price on shares of Boeing in a research note on Monday, March 24th. Royal Bank of Canada upped their target price on shares of Boeing from $200.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Boeing in a research note on Thursday, May 22nd. TD Securities lowered shares of Boeing to a “cautious” rating in a research note on Thursday, May 22nd. Finally, Cowen reaffirmed a “buy” rating on shares of Boeing in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.35.

Boeing Stock Performance

Shares of BA stock opened at $215.79 on Wednesday. The firm’s 50-day moving average is $184.87 and its 200-day moving average is $175.81. The stock has a market cap of $162.70 billion, a price-to-earnings ratio of -11.78 and a beta of 1.43. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $218.80.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.90. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.57 billion. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.13) earnings per share. Sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

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.