5 S&P 500 Stocks With The Most Upside

4. The Boeing Company (NYSE:BA)

Number of Hedge Fund Holders: 51

Share Price as of October 24: $141.32

The Boeing Company (NYSE:BA) is an aerospace and defense company. It develops commercial jetliners, military aircraft, satellites, missile defense, and human space flight and launch systems.

A Positive rating was reiterated on shares of The Boeing Company (NYSE:BA) on October 12 by analyst Charles Minervino at Susquehanna. The analyst also holds a $192 price target on the stock.

This October, The Boeing Company (NYSE:BA) announced that its airplane deliveries rose to 51 airplanes in September, compared to 35 planes the month before. The stock gained 1% in light of the announcement.

The Boeing Company (NYSE:BA) was found among the 13F holdings of 51 hedge funds in the second quarter, and 52 hedge funds in the previous quarter. Their total stake values were $1.5 billion and $1.4 billion, respectively.

Meridian Funds, managed by ArrowMark Partners, mentioned The Boeing Company (NYSE:BA) in its second-quarter 2022 investor letter. Here’s what the firm said:

“We similarly remained invested in largely out-of-favor 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.”