8 Best Drone Stocks to Buy Now

3. The Boeing Company (NYSE:BA)

Number of Hedge Fund Holders: 54

The Boeing Company (NYSE:BA), commonly known as Boeing, is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and missiles globally. The firm also offers its own drone products, including the MQ-25 for the U.S. Navy and the ScanEagle, a long-endurance UAS. Recently, The Boeing Company (NYSE:BA) and the Ukrainian company Antonov signed a preliminary joint work agreement to collaborate on the production of unmanned systems to bolster Ukraine’s defense industry. The memorandum includes provisions for training, logistical support, and the maintenance of drones, including Boeing’s ScanEagle.

On June 14, Deutsche Bank reaffirmed its Buy rating on The Boeing Company (NYSE:BA), maintaining a price target of $225.00. This endorsement follows increased delivery activity, particularly for the 737 MAX model. Flight data indicates that the company has delivered 12 commercial aircraft so far in June, including 11 of the 737 MAX planes and one 787.

However, The Boeing Company (NYSE:BA) reported a significant drop in plane deliveries for May, with only 24 commercial jets delivered, a 52% decrease from the same month last year. Despite this decline, the company secured four new orders in May, all for 787-10 Dreamliners for Eva Air.

Furthermore, despite ongoing supply chain issues and fluctuations in top management, The Boeing Company (NYSE:BA) continues to secure contracts. Recently, the company reversed a decision to cut production of F/A-18 Super Hornet fighter jets, securing a deal to supply 17 of these jets to the U.S. Navy by 2027. Valued at $1.14 billion, the contract is expected to be completed by April 2027, with deliveries beginning in the winter of 2026.

During March 2024, 54 out of the 919 hedge funds profiled by Insider Monkey had bought and owned The Boeing Company (NYSE:BA)’s shares. Ken Fisher’s Fisher Asset Management was the biggest investor due to its $1 billion stake.