The Boeing Company (NYSE:BA) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lowered its position in shares of The Boeing Company (NYSE:BA) by 25.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,078 shares of the aircraft producer’s stock after selling 4,876 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Boeing were worth $2,492,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Newport Trust Company LLC raised its stake in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. State Street Corp increased its holdings in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Boeing stock traded up $0.97 during trading hours on Monday, hitting $170.87. 10,992,498 shares of the stock were exchanged, compared to its average volume of 10,215,692. The stock has a market capitalization of $105.63 billion, a P/E ratio of -13.25 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $233.85. The business’s 50-day moving average is $159.43 and its two-hundred day moving average is $165.34.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the subject of several recent analyst reports. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $192.21.

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.