Outgoing Boeing CEO David Calhoun (BA) testified before a US Senate panel addressing safety concerns within the company and even apologizing directly to the families of victims of recent incidents involving Boeing jets.

Gabelli Funds Portfolio Manager Tony Bancroft joins Market Domination Overtime to give insight into what investors need to keep in mind in regard to Calhoun's testimony, a new whistleblower that stepped forward, and the aerospace manufacturer's search for Calhoun's successor.

Bancroft claims Boeing is committed to improving its manufacturing quality, keeping the company as a top pick moving forward:

"I think it's sort of more of a long-term story. Right now, Boeing is in the process of rebuilding the culture and working on their QA [Quality Assurance] and safety practices and it's going to take time. It's just not going to happen overnight, and the stock's probably just not going to react until we see a new CEO, this Spirit deal closed, and you start seeing production rates in the 737 increasing. But we continue to like the stock... it's a number one holding in our Gabelli Commercial Aerospace and Defense ETF (GCAD)."

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Nicholas Jacobino