Canandaigua National Trust Co of Florida Increases Stock Holdings in The Boeing Company $BA

Canandaigua National Trust Co of Florida increased its holdings in The Boeing Company (NYSE:BA) by 67.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,907 shares of the aircraft producer’s stock after purchasing an additional 1,569 shares during the period. Canandaigua National Trust Co of Florida’s holdings in Boeing were worth $819,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American National Bank & Trust grew its position 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 valued at $26,000 after purchasing an additional 128 shares during the period. REAP Financial Group LLC grew its position in shares of Boeing by 60.2% in the fourth quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Dogwood Wealth Management LLC grew its position in shares of Boeing by 167.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after purchasing an additional 112 shares during the period. Heck Capital Advisors LLC purchased a new stake in Boeing during the fourth quarter valued at about $33,000. Finally, Proathlete Wealth Management LLC purchased a new stake in Boeing during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE:BA opened at $216.12 on Monday. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The business’s 50-day simple moving average is $228.76 and its 200 day simple moving average is $199.57. The stock has a market cap of $163.42 billion, a price-to-earnings ratio of -13.09 and a beta of 1.48.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts’ expectations of $20.13 billion. During the same quarter in the prior year, the firm earned ($2.90) EPS. The firm’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BA shares. Morgan Stanley reissued an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Jefferies Financial Group boosted their price target on Boeing from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price target on Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. TD Securities downgraded Boeing to a “cautious” rating in a research report on Thursday, May 22nd. Finally, Susquehanna boosted their price target on Boeing from $265.00 to $270.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.77.

Insider Buying and Selling

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director directly owned 2,200 shares in the company, valued at $497,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Boeing Company 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.