Canandaigua National Trust Co of Florida Lowers Position in The Boeing Company (NYSE:BA)

Canandaigua National Trust Co of Florida lowered its position in shares of The Boeing Company (NYSE:BA) by 63.8% in the 4th quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BA. RPg Family Wealth Advisory LLC purchased a new stake in Boeing during the 3rd quarter valued at $28,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the second quarter valued at approximately $33,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the third quarter worth approximately $30,000. Meeder Asset Management Inc. grew its position in Boeing by 325.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 302 shares of the aircraft producer’s stock worth $55,000 after purchasing an additional 231 shares during the period. Finally, Fairscale Capital LLC bought a new position in shares of Boeing during the 2nd quarter valued at $59,000. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on BA shares. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. TD Cowen dropped their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group lowered their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Up 0.6 %

BA traded up $0.97 during trading hours 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 firm has a 50-day moving average price of $159.43 and a 200 day moving average price of $165.34. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $233.85. The firm has a market capitalization of $105.63 billion, a PE ratio of -13.25 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly 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 firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($3.26) EPS. Equities analysts predict that The Boeing Company will post -16.18 EPS for the current fiscal year.

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.