What Makes The Boeing Company (BA) Shares Attractive?

Jackson Square Partners, an investment management firm, released its “Large-Cap Growth” Q3 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -10.08% (net), underperforming its benchmark Russell 1000 Growth Index, which returned -3.60%. The most significant performance contributor during the quarter was industrials, while the healthcare sector detracted from performance. In addition, check the fund’s top five holdings to know its best picks in 2022.

Jackson Square Partners highlighted stocks like The Boeing Company (NYSE:BA) in its Q3 2022 investor letter. Headquartered in Chicago, Illinois, The Boeing Company (NYSE:BA) is an aircraft manufacturing company that operates through Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital segments. On December 20, 2022, The Boeing Company (NYSE:BA) stock closed at $188.29 per share. One-month return of The Boeing Company (NYSE:BA) was 7.69% and its shares lost 6.64% of their value over the last 52 weeks. The Boeing Company (NYSE:BA) has a market capitalization of $112.218 billion.

Jackson Square Partners made the following comment about The Boeing Company (NYSE:BA) in its Q3 2022 investor letter:

“For The Boeing Company (NYSE:BA)–in short, we believe the worst of Boeing’s idiosyncratic issues are behind it, the airframe duopoly remains as protected as ever, and at current prices (where we’ve been adding), the stock is trading around ~6x FCF on 2025E. Current airframe production is running materially below expected travel demand over the next 5-10 years, creating a structural supply/demand imbalance that we believe will drive a decade of strong growth in civil aerospace from here. In our 2Q’22 correspondence, we described the attributes of our ideal growth ballast and said we hoped to convert another in the coming months – we believe Boeing checks all those boxes.”

The Boeing Company (NYSE:BA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held The Boeing Company (NYSE:BA) at the end of the third quarter, which was 51 in the previous quarter.

We discussed The Boeing Company (NYSE:BA) in another article and shared the best aerospace stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.