Twin Lakes Capital Management LLC Reduces Stake in The Boeing Company $BA

Twin Lakes Capital Management LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 3.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,162 shares of the aircraft producer’s stock after selling 340 shares during the period. Boeing accounts for 0.9% of Twin Lakes Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Twin Lakes Capital Management LLC’s holdings in Boeing were worth $1,920,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in BA. Revolve Wealth Partners LLC purchased a new stake in Boeing during 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 worth $998,000 after purchasing an additional 716 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Boeing by 101.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,929 shares of the aircraft producer’s stock worth $2,376,000 after purchasing an additional 7,002 shares in the last quarter. Transcend Capital Advisors LLC lifted its holdings in Boeing by 2.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 5,054 shares of the aircraft producer’s stock worth $862,000 after purchasing an additional 131 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Boeing by 13.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 111,636 shares of the aircraft producer’s stock worth $18,774,000 after purchasing an additional 13,180 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Sanford C. Bernstein upped their target price on Boeing from $249.00 to $282.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Vertical Research upgraded Boeing from a “hold” rating to a “buy” rating and upped their target price for the stock from $242.00 to $270.00 in a research note on Monday, September 8th. Susquehanna restated a “positive” rating and issued a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Finally, KGI Securities upgraded Boeing from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $242.32.

Boeing Stock Performance

NYSE BA opened at $221.13 on Monday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The stock has a 50 day simple moving average of $221.68 and a two-hundred day simple moving average of $210.85. The stock has a market cap of $167.21 billion, a P/E ratio of -13.39 and a beta of 1.47.

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

Insider Activity at Boeing

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the acquisition, the director owned 2,200 shares in the company, valued at $497,420. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total value of $867,103.74. Following the completion of the sale, the executive vice president owned 35,873 shares of the company’s stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Boeing Company 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.