Cardinal Point Capital Management ULC Takes $463,000 Position in The Boeing Company $BA

Cardinal Point Capital Management ULC bought a new stake in The Boeing Company (NYSE:BA) during the second quarter, HoldingsChannel reports. The firm bought 2,210 shares of the aircraft producer’s stock, valued at approximately $463,000.

A number of other institutional investors have also modified their holdings of BA. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Boeing in the 2nd quarter valued at about $378,459,000. Vanguard Group Inc. raised its stake in shares of Boeing by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer’s stock valued at $11,197,468,000 after purchasing an additional 1,212,327 shares in the last quarter. Strs Ohio acquired a new stake in shares of Boeing in the 1st quarter valued at about $98,984,000. Canada Pension Plan Investment Board grew its position in shares of Boeing by 243.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 754,550 shares of the aircraft producer’s stock valued at $128,689,000 after buying an additional 535,060 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Boeing by 938.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 556,814 shares of the aircraft producer’s stock valued at $116,669,000 after buying an additional 503,193 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BA shares. Rothschild & Co Redburn raised shares of Boeing from a “neutral” rating to a “buy” rating and set a $275.00 price objective for the company in a research report on Friday, June 27th. Jefferies Financial Group set a $255.00 price objective on shares of Boeing in a research report on Tuesday, September 30th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and boosted their price objective for the company from $242.00 to $270.00 in a research report on Monday, September 8th. UBS Group set a $280.00 price objective on shares of Boeing and gave the company a “buy” rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $242.32.

Insider Buying and Selling

In related news, Director Mortimer J. Buckley purchased 2,200 shares of Boeing stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the purchase, the director owned 2,200 shares in the company, valued at approximately $497,420. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Christopher Raymond sold 3,771 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Boeing Stock Up 1.5%

Boeing stock opened at $221.13 on Friday. The firm has a 50-day moving average price of $221.68 and a two-hundred day moving average price of $210.01. The firm has a market capitalization of $167.21 billion, a price-to-earnings ratio of -13.39 and a beta of 1.47. The Boeing Company has a 52-week low of $128.88 and a 52-week high of $242.69.

Boeing (NYSE:BA) last posted 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 business had revenue of $22.75 billion for the quarter, compared to analysts’ expectations of $20.13 billion. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm earned ($2.90) earnings per share. Research analysts expect that The Boeing Company will post -2.58 earnings per share for the current year.

Boeing 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.