Canandaigua National Bank & Trust Co. Has $3.13 Million Holdings in Boeing Co (BA)

Canandaigua National Bank & Trust Co. lessened its stake in Boeing Co (NYSE:BA) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,322 shares of the aircraft producer’s stock after selling 280 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Boeing were worth $3,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kessler Investment Group LLC purchased a new position in shares of Boeing during the 2nd quarter valued at approximately $1,726,000. Truewealth LLC boosted its stake in shares of Boeing by 17.7% during the 2nd quarter. Truewealth LLC now owns 1,624 shares of the aircraft producer’s stock valued at $545,000 after buying an additional 244 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Boeing by 5.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 62,862 shares of the aircraft producer’s stock valued at $20,611,000 after buying an additional 3,035 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Boeing by 5.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,216,909 shares of the aircraft producer’s stock valued at $399,000,000 after buying an additional 62,608 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its stake in shares of Boeing by 163.3% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 19,877 shares of the aircraft producer’s stock valued at $6,669,000 after buying an additional 12,327 shares during the last quarter. Hedge funds and other institutional investors own 69.74% of the company’s stock.

Shares of BA opened at $359.80 on Friday. Boeing Co has a 12-month low of $246.21 and a 12-month high of $374.48. The company has a current ratio of 1.11, a quick ratio of 0.32 and a debt-to-equity ratio of -7.65. The firm has a market cap of $203.04 billion, a P/E ratio of 24.39, a PEG ratio of 1.76 and a beta of 1.44.



Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.12). Boeing had a return on equity of 2,344.87% and a net margin of 9.92%. The company had revenue of $24.26 billion during the quarter, compared to analyst estimates of $24.02 billion. During the same period in the prior year, the business earned $2.55 earnings per share. Boeing’s quarterly revenue was up 5.2% on a year-over-year basis. analysts predict that Boeing Co will post 14.63 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 10th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, August 9th. Boeing’s dividend payout ratio is presently 56.81%.

Several equities analysts have recently commented on BA shares. Buckingham Research increased their target price on Boeing from $289.00 to $324.00 and gave the company a “hold” rating in a research note on Monday, June 4th. Zacks Investment Research cut Boeing from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 12th. Cowen restated a “buy” rating and set a $430.00 price objective on shares of Boeing in a research note on Friday, July 13th. Canaccord Genuity restated a “hold” rating and set a $350.00 price objective on shares of Boeing in a research note on Tuesday, July 24th. Finally, Goldman Sachs Group set a $375.00 price objective on Boeing and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Boeing has an average rating of “Buy” and an average target price of $400.60.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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