Twin Lakes Capital Management LLC Lowers Position in The Boeing Company $BA

Twin Lakes Capital Management LLC lessened its stake in shares of The Boeing Company (NYSE:BA) by 3.6% in the second quarter, Holdings Channel reports. The institutional investor owned 9,162 shares of the aircraft producer’s stock after selling 340 shares during the period. Boeing accounts for approximately 0.9% of Twin Lakes Capital Management LLC’s portfolio, making the stock its 27th biggest position. Twin Lakes Capital Management LLC’s holdings in Boeing were worth $1,920,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Boeing by 1.9% during 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 buying an additional 1,212,327 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Boeing by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,198,059 shares of the aircraft producer’s stock valued at $715,979,000 after buying an additional 19,615 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Boeing by 3.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,933,139 shares of the aircraft producer’s stock valued at $500,247,000 after buying an additional 91,707 shares in the last quarter. Swiss National Bank increased its position in Boeing by 2.5% during the 1st quarter. Swiss National Bank now owns 2,110,200 shares of the aircraft producer’s stock valued at $359,895,000 after buying an additional 51,700 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Boeing by 2.3% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,014,928 shares of the aircraft producer’s stock valued at $422,188,000 after buying an additional 46,180 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Insider Activity

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

Boeing Price Performance

Shares of BA opened at $221.13 on Monday. The Boeing Company has a one year low of $128.88 and a one year high of $242.69. The firm has a market capitalization of $167.21 billion, a P/E ratio of -13.39 and a beta of 1.47. The business has a fifty day moving average of $221.68 and a 200 day moving average of $210.85.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, July 29th. The aircraft producer reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $22.75 billion during the quarter, compared to the consensus estimate of $20.13 billion. During the same period in the prior year, the firm earned ($2.90) earnings per share. Boeing’s revenue for the quarter was up 34.9% compared to the same quarter last year. Analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on BA. Royal Bank Of Canada restated an “outperform” rating and issued a $250.00 price target on shares of Boeing in a research note on Monday, September 29th. Susquehanna restated a “positive” rating and set a $270.00 target price on shares of Boeing in a research note on Monday, September 15th. Vertical Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and upped their target price for the company from $242.00 to $270.00 in a research note on Monday, September 8th. JPMorgan Chase & Co. upped their target price on shares of Boeing from $230.00 to $251.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Boeing in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.32.

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.