5 Best Military Drone Stocks to Invest In

3. The Boeing Company (NYSE:BA)

Number of Hedge Fund Holders: 51   

The Boeing Company (NYSE:BA) designs, develops, manufactures, services, and supports commercial jetliners, military aircraft, satellites, missile defense, and human space flight and launch systems. It is one of the elite drone stocks to invest in. On October 17, the Boeing Company announced that it is offering 737 MAX jets that had been made for Chinese customers to Air India. The company is seeking to find other buyers for 140 planes which are not permitted to deliver in China. 

On October 10, Wolfe Research analyst Myles Walton initiated coverage of The Boeing Company (NYSE:BA) stock with an Outperform rating and $180 price target. 

At the end of the second quarter of 2022, 51 hedge funds in the database of Insider Monkey held stakes worth $1.5 billion in The Boeing Company (NYSE:BA), compared to 52 in the preceding quarter worth $1.4 billion. 

In its Q2 2022 investor letter, Meridian Funds, an asset management firm, highlighted a few stocks and The Boeing Company (NYSE:BA) was one of them. Here is what the fund said:

“We similarly remained invested in largely out-of-favour The Boeing Company (NYSE:BA), a global leader in developing and producing commercial jet aircraft. Due to some self-inflicted wounds and a bit of bad luck, as well as dramatic declines in air travel early in the pandemic, investor sentiment for this company has simply been awful. As part of our contrarian thinking, however, we view the business as critical to global transportation needs and see multiple catalysts to improve sentiment. In addition to the current surge in air travel worldwide, ramped up production of the 737 MAX aircraft and the pending restart of 787 Dreamliner deliveries should help turn broader sentiment. Additionally, we anticipate a meaningful inflection in cash flow as Boeing starts delivering aircraft currently in storage as well as the eventual expansion of its production in both core platforms.”