In this article, we discuss the 5 best aerospace stocks to buy on sale. If you want to read our detailed analysis of these stocks, go directly to 13 Best Aerospace Stocks To Buy On Sale.
5. AAR Corp. (NYSE:AIR)
Number of Hedge Fund Holders: 19
Decline in Share Price Over Past Month as of January 23: 7.5%
AAR Corp. (NYSE:AIR) provides products and services to commercial aviation, government, and defense markets. In late December, AAR Corp. (NYSE:AIR) announced that it had signed a multi-year contract extension and expansion for flight-hour component support services with Dublin-based ASL Aviation Holdings.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Rubric Capital Management is a leading shareholder in AAR Corp. (NYSE:AIR) with 1.2 million shares worth more than $73 million.
In its Q3 2023 investor letter, Mairs & Power, an asset management firm, highlighted a few stocks and AAR Corp. (NYSE:AIR) was one of them. Here is what the fund said:
“Relative outperformance in the period came from AAR Corp. (NYSE:AIR). AAR Corp. (AIR), a supplier of parts and maintenance/repair services to the airline industry, is benefiting from a rebound in air miles traveled, and driving margins higher for the company.”
4. Triumph Group, Inc. (NYSE:TGI)
Number of Hedge Fund Holders: 21
Decline in Share Price Over Past Month as of January 23: 7.6%
Triumph Group, Inc. (NYSE:TGI) designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. Among the hedge funds being tracked by Insider Monkey, Boston-based investment firm Hill City Capital is a leading shareholder in Triumph Group, Inc. (NYSE:TGI) with 5.3 million shares worth more than $41 million.
3. Archer Aviation Inc. (NYSE:ACHR)
Number of Hedge Fund Holders: 22
Decline in Share Price Over Past Month as of January 23: 17.8%
Archer Aviation Inc. (NYSE:ACHR) operates as an urban air mobility company that designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. At the end of the third quarter of 2023, 22 hedge funds in the database of Insider Monkey held stakes worth $150 million in Archer Aviation Inc. (NYSE:ACHR), compared to 17 the preceding quarter worth $57 million.
2. Hexcel Corporation (NYSE:HXL)
Number of Hedge Fund Holders: 24
Decline in Share Price Over Past Month as of January 23: 4.9%
Hexcel Corporation (NYSE:HXL) makes and sells structural materials. At the end of the third quarter of 2023, 24 hedge funds in the database of Insider Monkey held stakes worth $172 million in Hexcel Corporation (NYSE:HXL), the same as in the previous quarter worth $180 million.
1. The Boeing Company (NYSE:BA)
Number of Hedge Fund Holders: 64
Decline in Share Price Over Past Month as of January 23: 17.5%
The Boeing Company (NYSE:BA) designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. On December 20, investment advisory Deutsche Bank maintained a Buy rating on The Boeing Company (NYSE:BA) stock with a price target of $320.
At the end of the third quarter of 2023, 64 hedge funds in the database of Insider Monkey held stakes worth $2.9 billion in The Boeing Company (NYSE:BA), compared to 57 in the preceding quarter worth $2.1 billion.
You can also take a peek at 14 Best Hot Stocks To Buy Now and 12 Best Foreign Stocks With Dividends.
