10 Blue-Chip Stocks to Buy at 52-Week Lows

6. Boeing Co (NYSE:BA)

52 Week Range: $151.65 – $267.54

Current Share Price: $155.65

Number of Hedge Fund Holders: 42

Market Capitalization as of September 30: $94.22 Billion 

Boeing Co (NYSE:BA) is one of the blue-chip stocks that has been battered, plunging close to its 52-week lows due to safety concerns over its planes.  The company’s sentiment on Wall Street has taken a hit in the aftermath of a door falling off an airplane, a spacecraft getting stranded, and workers striking at its commercial aircraft business.

In its second-quarter financial report, Boeing Co (NYSE:BA) revealed a $4.3 billion quarterly cash burn, a $2.33 per share loss, and a revenue miss. Following a slate of disappointing financial results and operational inefficiencies, Boeing has swung into action, announcing its C.E.O. Dave Calhoun would be retiring, and Robert K. “Kelly” Ortberg, a former executive at Rockwell Collins, taking over as C.E.O.

Management change comes on. Boeing Co (NYSE:BA) announced the biggest increase in 737 deliveries in June, with the company well poised to deliver up to 38 airplanes a month by yearend. Given that the company’s market position on airplane production and delivery is not expected to disappear anytime soon, it remains one of the best blue chip stocks to buy at 52-week lows as it addresses issues that have beleaguered it in recent years.

Management has already laid out plans to achieve $10 billion in free cash flow between 2025 and 2026 as it ramps up the deliveries of 737 and 787 planes. The company is already reaping the rewards of improved airplane production by activating its third production line.

By the end of the second quarter of 2024, a notable 42 out of the 912 hedge funds tracked by Insider Monkey had invested in Boeing Co (NYSE:BA). This indicates significant interest and confidence in Boeing’s potential among these institutional investors.