7 Best Buy-the-Dip Stocks to Invest In

3. Boeing Co (NYSE:BA)

52 Week Range: $158.30 – $267.54

Current Share Price: $173.74

Number of Hedge Fund Holders: 42

Market Capitalization as of  September 4: $99.22 Billion 

Boeing Co (NYSE:BA) is one of the best buy-the-dip stocks to invest in for diversifying an investment, not a portfolio, into the industrial sector. The company and its subsidiaries design, develop and sell commercial jetliners, military aircraft, and missile defense systems. Its Global Services segment offers products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades, and conversions.

Boeing Co (NYSE:BA) is one of the stocks that has nosedived significantly, presenting a buy-the-dip opportunity. The stock sell-off has come on the core Boeing commercial airplanes segment suffering from ongoing quality management issues associated with the 737 Max. The company has also been forced to ground its 777x fleet over safety issues.

In its quest to enhance quality assurance and guarantee sufficient fuselage supplies, Boeing Co (NYSE:BA) is acquiring Spirit AeroSystems and might need to invest additional funds into Spirit AeroSystems to better its operations.

Amid the safety issues, Boeing is still one of the biggest airplane makers and faces minimal competition in the sector. It is one of the reasons that deliveries have been improving with the narrow body 737 Max attracting 158 orders in the recent quarter. As it stands, Boeing has 4,741 unfilled 737 max orders in its backlog.

In August, the aerospace giant delivered 42 aircraft, keeping pace with its July performance. If Boeing Co (NYSE:BA) continues to achieve this delivery pace through September, the third quarter of 2024 will significantly improve compared to the previous quarter. This forecast highlights a possible upward trend in Boeing’s operational efficiency as it strives to recover from the effects of the pandemic in the aviation sector.

Even though it has encountered obstacles, shown by a pessimistic P/E ratio of -28.19 and a minor drop in revenue by 0.07% in the past year, the company is currently trading close to its lowest point in the past 52 weeks, which could be a chance for long-term investors to purchase shares.

At the end of the second quarter of 2024, 42 out of the 912 hedge funds profiled by Insider Monkey had bought and owned Boeing Co (NYSE:BA) shares.