Before Boeing Co‘s (NYSE:BA) chart deteriorated into a Death Cross, billionaire investors David Tepper and Paul Tudor Jones had already initiated new positions in the aerospace giant, suggesting they may be looking beyond today’s turbulence toward a longer-term recovery.
Manufacturing flaws and regulatory scrutiny have kept Boeing stock down nearly 12% over the last 12 months. But the latest 13F filings, reflecting institutional holdings as of June 30, revealed new positions from Appaloosa Management‘s David Tepper and Tudor Investment’s Paul Tudor Jones—an intriguing vote of confidence at a time when investor sentiment remains fragile.
The 13F filings offer only a quarter-end snapshot of institutional holdings as of June 30, meaning Tepper and Tudor may have since added to, trimmed, or exited their Boeing stakes.
Why Billionaires Still See Value
The bullish case for Boeing doesn’t hinge on a single catalyst. Instead, it rests on whether the company can gradually stabilize its commercial aircraft business while benefiting from a ballooning U.S. military budget, poised to reach an unprecedented $1.5 trillion for fiscal year 2027.
Last month, Boeing received an indefinite-delivery, indefinite-quantity contract with a ceiling value of $131.2 billion to support the U.S. Air Force’s F-15 Eagle program through 2037. The agreement covers aircraft production, modernization, and sustainment for U.S. and international customers, reinforcing the long-term visibility of Boeing’s defense business.
The contract’s ceiling value represents the maximum amount that could be ordered over time—not an immediate $131 billion award.
Yes, But…
Boeing continues to work through legacy challenges. The Arlington, Virginia-based company recently settled a $3.1 million FAA civil penalty tied to manufacturing quality violations, while the integration of Spirit AeroSystems has added unexpected liabilities and weighed on its financial results.
For long-term investors, the question is whether these headwinds are temporary execution issues—or signs of deeper structural problems.
Chart created using Benzinga Pro
Technically, Boeing’s stock has already formed a death cross, with its 50-day moving average at $219.52 falling below its 200-day moving average at $220.09—a signal many traders associate with weakening long-term momentum.
The stock has struggled to gain traction despite periodic rallies and remains below key moving averages. Momentum indicators also remain subdued, with the Relative Strength Index hovering below the neutral 50 level, suggesting buyers have yet to regain control. While technical signals don’t predict future returns, they illustrate the market’s cautious stance toward Boeing’s turnaround.
That makes the contrast notable: even as the chart has deteriorated, Tepper and Tudor were willing to establish positions rather than wait for clearer signs of recovery.
Boeing Investors are Betting On Execution
Boeing’s defense business is securing sizable long-term contracts, but investors are still waiting for sustained evidence that the commercial aviation business can deliver consistent production, stronger margins and fewer operational surprises.
That’s likely what makes Boeing such a divisive stock. The chart reflects skepticism, while some of Wall Street’s best-known investors appear willing to look through the near-term noise.
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