The Boeing Company $BA Shares Acquired by Canandaigua National Trust Co of Florida

Key Points

• Canandaigua National Trust Co of Florida increased its holdings in Boeing by 67.1% during the 2nd quarter, now owning 3,907 shares worth approximately $819,000.
• In recent insider trades, EVP David Christopher Raymond sold 3,771 shares worth around $867,000, while Director Mortimer J. Buckley acquired 2,200 shares valued at about $497,420.
• Boeing's stock has a current market cap of $163.42 billion and reported revenue of $22.75 billion for the last quarter, exceeding analysts' expectations.

Canandaigua National Trust Co of Florida lifted its holdings in shares of The Boeing Company (NYSE:BA - Free Report) by 67.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,907 shares of the aircraft producer's stock after acquiring an additional 1,569 shares during the period. Canandaigua National Trust Co of Florida's holdings in Boeing were worth $819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Monetary Management Group Inc. raised its position in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer's stock worth $34,000 after acquiring an additional 50 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Boeing by 0.9% during the 1st quarter. Anchor Investment Management LLC now owns 5,411 shares of the aircraft producer's stock worth $923,000 after acquiring an additional 50 shares in the last quarter. Heritage Financial Services LLC raised its position in shares of Boeing by 4.2% during the 1st quarter. Heritage Financial Services LLC now owns 1,264 shares of the aircraft producer's stock worth $216,000 after acquiring an additional 51 shares in the last quarter. Wood Tarver Financial Group LLC grew its stake in Boeing by 14.3% during the 1st quarter. Wood Tarver Financial Group LLC now owns 439 shares of the aircraft producer's stock worth $75,000 after buying an additional 55 shares during the last quarter. Finally, Signature Wealth Management Partners LLC grew its stake in Boeing by 2.0% during the 1st quarter. Signature Wealth Management Partners LLC now owns 2,888 shares of the aircraft producer's stock worth $493,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company's stock.

Insider Buying and Selling at Boeing

In related news, 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. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mortimer J. Buckley acquired 2,200 shares of Boeing stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the acquisition, the director owned 2,200 shares of the company's stock, valued at $497,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

BA has been the topic of a number of research reports. Citigroup restated a "buy" rating on shares of Boeing in a research note on Monday, July 28th. KGI Securities upgraded Boeing from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Wells Fargo & Company restated an "underweight" rating on shares of Boeing in a research note on Thursday, May 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Finally, Vertical Research upgraded Boeing from a "hold" rating to a "buy" rating and raised their price target for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Boeing has a consensus rating of "Moderate Buy" and an average price target of $230.77.

Boeing Stock Performance

Shares of BA stock opened at $216.12 on Monday. The stock has a fifty day moving average price of $228.76 and a 200 day moving average price of $199.57. The stock has a market cap of $163.42 billion, a PE ratio of -13.09 and a beta of 1.48. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

Boeing (NYSE:BA - Get Free Report) last issued 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 company had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. The business's revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.90) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -2.58 earnings per share for the current 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.

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