Indiana Trust & Investment Management CO Reduces Position in The Boeing Company (NYSE:BA)

Indiana Trust & Investment Management CO cut its stake in shares of The Boeing Company (NYSE:BA) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,248 shares of the aircraft producer’s stock after selling 110 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in The Boeing were worth $1,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Newport Trust Co grew its holdings in shares of The Boeing by 41.0% during the fourth quarter. Newport Trust Co now owns 49,550,937 shares of the aircraft producer’s stock valued at $10,606,874,000 after buying an additional 14,409,687 shares during the last quarter. BlackRock Inc. grew its holdings in shares of The Boeing by 3.3% during the fourth quarter. BlackRock Inc. now owns 31,244,004 shares of the aircraft producer’s stock valued at $6,688,091,000 after buying an additional 1,000,081 shares during the last quarter. Morgan Stanley grew its holdings in shares of The Boeing by 28.7% during the fourth quarter. Morgan Stanley now owns 7,508,555 shares of the aircraft producer’s stock valued at $1,607,282,000 after buying an additional 1,673,366 shares during the last quarter. FMR LLC grew its holdings in shares of The Boeing by 75.9% during the fourth quarter. FMR LLC now owns 6,095,082 shares of the aircraft producer’s stock valued at $1,304,713,000 after buying an additional 2,629,054 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in The Boeing by 7.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,562,147 shares of the aircraft producer’s stock valued at $976,576,000 after purchasing an additional 331,409 shares during the period. 51.41% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Timothy John Keating sold 21,737 shares of the stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $202.15, for a total value of $4,394,134.55. Following the completion of the sale, the executive vice president now owns 101,817 shares of the company’s stock, valued at approximately $20,582,306.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Theodore Colbert III sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $200.80, for a total transaction of $1,004,000.00. Following the completion of the sale, the chief executive officer now directly owns 49,846 shares of the company’s stock, valued at approximately $10,009,076.80. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

NYSE BA traded down $0.49 during trading hours on Thursday, hitting $252.09. 178,533 shares of the company’s stock traded hands, compared to its average volume of 16,404,105. The Boeing Company has a 52-week low of $113.89 and a 52-week high of $278.57. The company has a market capitalization of $146.97 billion, a PE ratio of -32.01, a PEG ratio of 101.91 and a beta of 1.65. The firm’s 50-day moving average is $238.71 and its 200-day moving average is $205.41.

The Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 26th. The aircraft producer reported ($15.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.78) by ($13.47). The company had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.36 billion. During the same period in the previous year, the company posted ($2.33) earnings per share. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -9.39 EPS for the current year.

A number of research firms recently issued reports on BA. UBS Group restated a “buy” rating and set a $285.00 target price on shares of The Boeing in a research report on Thursday, January 28th. Benchmark decreased their target price on shares of The Boeing from $290.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, February 19th. Redburn Partners restated a “sell” rating on shares of The Boeing in a research report on Thursday, December 17th. Nord/LB downgraded shares of The Boeing from a “hold” rating to a “sell” rating in a research report on Thursday, January 28th. Finally, Jefferies Financial Group boosted their target price on shares of The Boeing from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, December 9th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $228.32.

About The Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Featured Story: Market Timing

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA).

Institutional Ownership by Quarter for The Boeing (NYSE:BA)

Receive News & Ratings for The Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Boeing and related companies with MarketBeat.com's FREE daily email newsletter.