Cidel Asset Management Inc. Sells 297 Shares of The Boeing Company $BA

Cidel Asset Management Inc. lessened its position in The Boeing Company (NYSE:BA) by 18.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,329 shares of the aircraft producer’s stock after selling 297 shares during the quarter. Cidel Asset Management Inc.’s holdings in Boeing were worth $278,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BA. Revolve Wealth Partners LLC bought a new stake in shares of Boeing in the 4th quarter worth about $201,000. GAMMA Investing LLC lifted its holdings in Boeing by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 5,851 shares of the aircraft producer’s stock valued at $998,000 after buying an additional 716 shares in the last quarter. Advisor Resource Council bought a new stake in Boeing during the 1st quarter valued at about $578,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Boeing by 1.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 155,824 shares of the aircraft producer’s stock valued at $26,576,000 after buying an additional 2,919 shares in the last quarter. Finally, Live Oak Private Wealth LLC lifted its holdings in Boeing by 0.7% during the 1st quarter. Live Oak Private Wealth LLC now owns 34,033 shares of the aircraft producer’s stock valued at $5,804,000 after buying an additional 238 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Rothschild & Co Redburn upgraded shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a report on Friday, June 27th. JPMorgan Chase & Co. lifted their price objective on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Barclays lifted their price objective on shares of Boeing from $210.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Boeing in a research report on Wednesday, October 8th. Finally, Redburn Atlantic raised shares of Boeing from a “hold” rating to a “strong-buy” rating and lifted their price objective for the stock from $180.00 to $275.00 in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $240.20.

Insider Transactions at Boeing

In related news, Director Mortimer J. Buckley bought 2,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $226.10 per share, with a total value of $497,420.00. Following the completion of the transaction, the director directly owned 2,200 shares of the company’s stock, valued at $497,420. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were 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 in the company, valued at $8,248,637.62. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Boeing Price Performance

BA opened at $216.78 on Tuesday. The stock has a market cap of $163.92 billion, a P/E ratio of -13.13 and a beta of 1.47. The firm has a fifty day moving average price of $222.92 and a 200 day moving average price of $208.79. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69.

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

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.