Cardinal Capital Management Acquires Shares of 3,034 The Boeing Company (NYSE:BA)

Cardinal Capital Management bought a new position in shares of The Boeing Company (NYSE:BA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,034 shares of the aircraft producer’s stock, valued at approximately $461,000.

Several other large investors have also added to or reduced their stakes in BA. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new stake in shares of Boeing in the 2nd quarter worth $34,000. McClarren Financial Advisors Inc. raised its holdings in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Boeing during the second quarter valued at about $39,000. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $155.00 on Friday. The firm has a market cap of $95.15 billion, a P/E ratio of -43.66 and a beta of 1.57. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The stock has a 50 day simple moving average of $161.10 and a two-hundred day simple moving average of $172.64.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the previous year, the firm posted ($0.82) EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on BA. Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target of $198.79.

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.