10 Best American Defense Stocks To Buy According to Hedge Funds

8. The Boeing Company (NYSE:BA)

Number of Hedge Fund Holders: 42

The Boeing Company (NYSE:BA) is a leading American multinational corporation specializing in the design, production, and sale of aircraft, rotorcraft, rockets, satellites, telecommunications equipment, and missiles globally. The company also provides leasing and product support services.

The Boeing Company (NYSE:BA) reported a disappointing Q3 earnings report, with the company’s net loss coming in at $6.17 billion, bringing its total losses for 2024 so far to nearly $8 billion, along with a negative operating cash flow of $1.34 billion. Revenue was around $17.8 billion, a slight 1% decrease from the same period last year, aligning closely with earlier projections. On the earnings call, CFO Brian West noted Boeing expects additional cash outflows in Q4 and projects negative free cash flow for the full year of 2025. “Turning this big ship around will take time, but when it does, it has the potential to be great again,” he said in a message to employees.

On a positive note, Boeing’s cash and cash equivalents (including short-term and other investments) stood at $10.47 billion by the end of Q3 2024, surpassing its current debt of $4.47 billion.

To address financial challenges and operational inefficiencies, The Boeing Company (NYSE:BA) filed a registration statement with U.S. regulators, allowing it to raise up to $25 billion through debt securities and other stock offerings. Additionally, the company managed to secure a $10 billion credit line from a consortium of banks, including BofA, to strengthen its financial position in light of a major worker strike affecting production.