Fidelity Dividend Growth Fund on The Boeing Company
Thesis
Fidelity views commercial aerospace as one of the few cyclical end markets where production remains below pre-pandemic levels despite a strong recovery in air travel. Boeing is a major overweight positioned to benefit as aircraft production normalizes. Its backlog improved materially, declining to 10.6 years at the end of 2025 from 17.2 years in 2024, supporting the fund's expectation of better operating conditions.
“All told, we are anticipating better times for Boeing.”
Key risks
- Boeing is still working to resolve longstanding production issues.