Canandaigua National Bank & Trust Co. Purchases Shares of 10,813 The Boeing Company $BA

Canandaigua National Bank & Trust Co. acquired a new position in The Boeing Company (NYSE:BA) during the second quarter, HoldingsChannel reports. The firm acquired 10,813 shares of the aircraft producer’s stock, valued at approximately $2,341,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Boeing by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer’s stock valued at $15,413,227,000 after buying an additional 3,460,021 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Boeing by 245.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer’s stock worth $489,052,000 after buying an additional 1,600,909 shares during the period. Janus Henderson Group PLC increased its position in shares of Boeing by 43.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer’s stock worth $840,204,000 after acquiring an additional 1,176,074 shares in the last quarter. Viking Global Investors LP raised its stake in shares of Boeing by 31.3% in the 4th quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer’s stock valued at $858,294,000 after acquiring an additional 942,536 shares during the period. Finally, Diamant Asset Management Inc. raised its stake in shares of Boeing by 19,623.0% in the 1st quarter. Diamant Asset Management Inc. now owns 872,348 shares of the aircraft producer’s stock valued at $173,623,000 after acquiring an additional 867,925 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boeing

In other Boeing news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the purchase, the director directly owned 1,370 shares of the company’s stock, valued at approximately $299,345. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate insiders.

Boeing News Summary

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: 737 MAX 7 certification unlocks future revenue. The FAA’s approval ends nearly a decade of technical reviews and safety assessments, allowing Boeing to begin preparations for first deliveries of the smallest MAX variant. The aircraft adds capacity to Boeing’s best-selling narrowbody family and could begin contributing cash flow sooner than the lengthy development timeline might suggest. Federal Aviation Administration certifies Boeing 737 MAX 7
• Positive Sentiment: Wall Street sentiment improved. BNP Paribas analyst Matthew Akers raised Boeing’s rating from Sell to Buy, skipping a Hold rating, citing fading certification risks and the potential for a powerful cash-flow recovery. The upgrade, combined with the FAA decision, helped reinforce investor confidence in Boeing’s extended recovery. Boeing Stock Gets Rare Double Upgrade
• Positive Sentiment: Commercial aircraft demand remains supportive. Airlines are operating aging fleets amid strong travel demand, increasing the value of Boeing’s ability to raise narrowbody and widebody delivery rates. Boeing also delivered a 737 MAX to Tajikistan’s Somon Air, providing another indication of ongoing international demand. Somon Air Receives Its First Boeing 737 MAX Jet
• Neutral Sentiment: Revenue benefits will take time. Although certification clears the way for deliveries, airlines may need months to integrate the MAX 7 into flight schedules, and passengers are not expected to fly on the aircraft until 2027. This limits the immediate earnings impact. Boeing’s Smallest 737 Max Finally Wins FAA Certification
• Negative Sentiment: Defense-program execution remains a concern. Boeing’s recent earnings miss was attributed largely to roughly $280 million in charges tied to legacy fixed-price defense manufacturing. While investors largely looked past the miss because commercial demand and certification progress are improving, the charges highlight continuing margin and cash-flow risks outside the commercial-aircraft business. The $280 Million Reason Boeing Missed

Boeing Price Performance

Shares of BA stock opened at $237.08 on Wednesday. The firm has a fifty day simple moving average of $219.78 and a 200-day simple moving average of $223.70. The company has a market capitalization of $187.38 billion, a PE ratio of 102.63 and a beta of 1.21. The Boeing Company has a twelve month low of $176.77 and a twelve month high of $254.35. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77.

Boeing (NYSE:BA) last released its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. During the same period last year, the firm earned ($1.24) EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts anticipate that The Boeing Company will post -0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Boeing from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price objective on Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wolfe Research restated an “outperform” rating and set a $275.00 price objective on shares of Boeing in a research note on Thursday, April 23rd. Royal Bank Of Canada decreased their target price on Boeing from $275.00 to $265.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, Robert W. Baird set a $300.00 target price on Boeing in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.44.

About Boeing

Boeing Company (NYSE: BA) is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing’s principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.