Boeing Co. (BA) Stake Decreased by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. decreased its stake in shares of Boeing Co. (NYSE:BA) by 7.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 46,738 shares of the aircraft producer’s stock after selling 3,781 shares during the period. First Citizens Bank & Trust Co.’s holdings in Boeing were worth $6,070,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in Boeing by 5.8% in the first quarter. Geode Capital Management LLC now owns 5,524,347 shares of the aircraft producer’s stock valued at $699,957,000 after buying an additional 304,674 shares in the last quarter. Franklin Resources Inc. raised its stake in Boeing by 67.9% in the first quarter. Franklin Resources Inc. now owns 4,906,313 shares of the aircraft producer’s stock valued at $622,808,000 after buying an additional 1,984,650 shares during the last quarter. BlackRock Group LTD raised its stake in Boeing by 5.9% in the first quarter. BlackRock Group LTD now owns 4,481,880 shares of the aircraft producer’s stock valued at $568,928,000 after buying an additional 248,233 shares during the last quarter. Ruffer LLP raised its stake in Boeing by 10.5% in the first quarter. Ruffer LLP now owns 3,013,198 shares of the aircraft producer’s stock valued at $382,691,000 after buying an additional 285,386 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Boeing during the second quarter valued at approximately $316,346,000. Institutional investors and hedge funds own 75.45% of the company’s stock.
Shares of Boeing Co. (NYSE:BA) traded down 1.572% during trading on Tuesday, hitting $133.705. The stock had a trading volume of 2,155,760 shares. The stock has a market cap of $83.41 billion, a price-to-earnings ratio of 24.069 and a beta of 1.03. Boeing Co. has a 12 month low of $102.10 and a 12 month high of $150.59. The company’s 50 day moving average price is $131.42 and its 200 day moving average price is $131.13.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The firm earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same period in the previous year, the business earned $1.62 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts expect that Boeing Co. will post $6.29 earnings per share for the current fiscal year.
Several research firms have recently commented on BA. Drexel Hamilton reaffirmed a “buy” rating and set a $158.00 price target on shares of Boeing in a research report on Friday, July 15th. Deutsche Bank AG reaffirmed a “buy” rating and set a $160.00 price target on shares of Boeing in a research report on Monday, June 20th. Goldman Sachs Group Inc. set a $107.00 price target on shares of Boeing and gave the company a “sell” rating in a research report on Thursday, July 28th. Bank of America Corp. reaffirmed an “underperform” rating and set a $125.00 price target on shares of Boeing in a research report on Wednesday, July 6th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $133.53 price target (down previously from $165.00) on shares of Boeing in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Boeing currently has a consensus rating of “Hold” and a consensus target price of $147.94.
In other Boeing news, SVP Diana L. Sands sold 14,151 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $133.06, for a total transaction of $1,882,932.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Randall L. Stephenson acquired 1,871 shares of the stock in a transaction on Monday, August 1st. The shares were bought at an average cost of $133.89 per share, for a total transaction of $250,508.19. Following the purchase, the director now directly owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The disclosure for this purchase can be found here. Corporate insiders own 0.58% of the company’s stock.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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