Griffin Asset Management Inc. Sells 150 Shares of The Boeing Company (NYSE:BA)

Griffin Asset Management Inc. trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,585 shares of the aircraft producer’s stock after selling 150 shares during the period. Griffin Asset Management Inc.’s holdings in Boeing were worth $281,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BA. AdvisorNet Financial Inc grew its position in shares of Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after acquiring an additional 710 shares during the period. Carnegie Investment Counsel lifted its stake in Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after purchasing an additional 2,943 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Boeing by 8.8% during the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares during the period. Principal Financial Group Inc. increased its position in Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the period. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Wells Fargo & Company reduced their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Citigroup lowered their price target on shares of Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.11.

Boeing Stock Up 1.5 %

BA stock opened at $177.79 on Wednesday. The company’s 50-day moving average price is $167.04 and its two-hundred day moving average price is $164.23. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $214.63. The firm has a market cap of $109.91 billion, a P/E ratio of -13.78 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the business posted ($0.47) EPS. Equities analysts predict that The Boeing Company will post -16.39 EPS 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.