Cidel Asset Management Inc. Decreases Stock Holdings in The Boeing Company $BA

Cidel Asset Management Inc. trimmed its stake in shares of The Boeing Company (NYSE:BA) by 18.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,329 shares of the aircraft producer’s stock after selling 297 shares during the period. Cidel Asset Management Inc.’s holdings in Boeing were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vestcor Inc increased its holdings in Boeing by 9.0% during the first quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer’s stock valued at $2,471,000 after buying an additional 1,195 shares during the last quarter. National Pension Service increased its holdings in Boeing by 19.6% during the first quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer’s stock valued at $227,365,000 after buying an additional 218,049 shares during the last quarter. MFG Wealth Management Inc. purchased a new stake in Boeing during the first quarter valued at approximately $2,125,000. McElhenny Sheffield Capital Management LLC purchased a new stake in Boeing during the second quarter valued at approximately $62,859,000. Finally, Kelman Lazarov Inc. purchased a new stake in shares of Boeing in the first quarter worth $262,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna reissued a “positive” rating and issued a $270.00 price objective on shares of Boeing in a research note on Monday, September 15th. Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $180.00 to $275.00 in a research note on Friday, June 27th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research note on Tuesday, September 30th. Barclays increased their price objective on shares of Boeing from $210.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and increased their price objective for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $240.20.

Boeing Stock Performance

BA opened at $216.78 on Tuesday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock has a market capitalization of $163.92 billion, a price-to-earnings ratio of -13.13 and a beta of 1.47. The company has a fifty day moving average of $222.92 and a 200 day moving average of $208.79.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion for the quarter, compared to analyst estimates of $20.13 billion. During the same period in the prior year, the firm earned ($2.90) earnings per share. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director directly owned 2,200 shares of the company’s stock, valued at approximately $497,420. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of Boeing stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the transaction, the executive vice president directly owned 35,873 shares of the company’s stock, valued at $8,248,637.62. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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.