Billionaire Steve Cohen is Buying These 5 Stocks in 2022

3. The Boeing Company (NYSE:BA) 

Number of Hedge Fund Holders: 52

The Boeing Company (NYSE:BA) was incorporated in 1916 and is based in Chicago, Illinois. The company designs and manufactures commercial jetliners, military aircrafts, satellites, missile defense, human space flight and launch systems, and services worldwide.

13F filings for the first quarter of 2022 disclose that Steve Cohen’s fund acquired 484,449 shares of The Boeing Company (NYSE:BA), worth $92.7 million, representing 0.36% of the total 13F portfolio. 

The decline in The Boeing Company (NYSE:BA)’s stock price has raised continuous questions from investors, JPMorgan analyst Seth Seifman observed. However, the primary goal for the company remains unchanged – to deliver 737s and 787s – which will help generate cash, lower working capital, and start the de-levering process, said the analyst. He noted the “several other important debates around Boeing” will “take on a different tone if deliveries are accelerating”. The analyst maintained an Overweight rating on The Boeing Company (NYSE:BA) with a $190 price target on May 24.

Among the hedge funds tracked by Insider Monkey, 52 funds were bullish on The Boeing Company (NYSE:BA) at the end of March 2022, up from 50 funds in the last quarter. Matthew Halbower’s Pentwater Capital Management is a prominent shareholder of the company, with 1.13 million shares worth $216.3 million.