Canandaigua National Trust Co of Florida Decreases Stake in The Boeing Company (NYSE:BA)

Canandaigua National Trust Co of Florida lowered its stake in shares of The Boeing Company (NYSE:BA) by 63.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,956 shares of the aircraft producer’s stock after selling 3,452 shares during the period. Canandaigua National Trust Co of Florida’s holdings in Boeing were worth $346,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BA. Doliver Advisors LP increased its holdings in shares of Boeing by 62.9% in the fourth quarter. Doliver Advisors LP now owns 5,397 shares of the aircraft producer’s stock worth $955,000 after purchasing an additional 2,083 shares during the period. CWA Asset Management Group LLC grew its position in Boeing by 37.1% during the fourth quarter. CWA Asset Management Group LLC now owns 3,009 shares of the aircraft producer’s stock worth $533,000 after buying an additional 815 shares in the last quarter. GAMMA Investing LLC increased its stake in Boeing by 26.2% in the 4th quarter. GAMMA Investing LLC now owns 5,135 shares of the aircraft producer’s stock worth $909,000 after acquiring an additional 1,066 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Boeing by 51.0% in the 4th quarter. Versant Capital Management Inc now owns 811 shares of the aircraft producer’s stock valued at $143,000 after acquiring an additional 274 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after acquiring an additional 38,332 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA traded up $0.97 during midday trading on Monday, reaching $170.87. 10,992,498 shares of the company’s stock traded hands, compared to its average volume of 10,215,692. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $233.85. The firm has a fifty day moving average of $159.43 and a two-hundred day moving average of $165.34. The stock has a market capitalization of $105.63 billion, a price-to-earnings ratio of -13.25 and a beta of 1.52.

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

Analysts Set New Price Targets

Several research firms recently weighed in on BA. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Jefferies Financial Group dropped their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, October 15th. Finally, Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

About Boeing

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.