Canandaigua National Bank & Trust Co. Takes $2.34 Million Position in The Boeing Company $BA

Canandaigua National Bank & Trust Co. bought a new stake in shares of The Boeing Company (NYSE:BA) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 10,813 shares of the aircraft producer’s stock, valued at approximately $2,341,000.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BA. Robert W. Baird set a $300.00 price objective on Boeing in a research report on Wednesday, July 29th. Tigress Financial lifted their price objective on Boeing from $290.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. William Blair reissued an “outperform” rating on shares of Boeing in a research note on Tuesday, July 28th. JPMorgan Chase & Co. upped their target price on shares of Boeing from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada decreased their price target on shares of Boeing from $275.00 to $265.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $272.44.

Key Headlines Impacting Boeing

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

Insider Activity at Boeing

In related news, Director Bradley D. Tilden acquired 1,370 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the acquisition, the director directly owned 1,370 shares in the company, valued at approximately $299,345. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Boeing Trading Up 1.5%

Shares of Boeing stock opened at $237.08 on Wednesday. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The business’s fifty day moving average is $219.78 and its two-hundred day moving average is $223.70. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The firm has a market cap of $187.38 billion, a PE ratio of 102.63 and a beta of 1.21.

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

Boeing Profile

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.