Violich Capital Management Inc. Invests $220,000 in The Boeing Company (NYSE:BA)

Violich Capital Management Inc. acquired a new position in The Boeing Company (NYSE:BA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,243 shares of the aircraft producer’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also modified their holdings of BA. Van ECK Associates Corp lifted its stake in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC raised its stake in Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after purchasing an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. raised its stake in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. State Street Corp raised its stake in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

BA opened at $180.58 on Tuesday. The firm’s 50-day simple moving average is $172.22 and its 200-day simple moving average is $164.02. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $209.80. The firm has a market cap of $135.45 billion, a price-to-earnings ratio of -9.86 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the company earned ($0.47) EPS. As a group, sell-side analysts anticipate that The Boeing Company will post -2.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on BA shares. Morgan Stanley cut their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Citigroup upped their target price on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday. Finally, Robert W. Baird lowered their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $195.16.

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.