CNBC's Jim Cramer said Tuesday he's still holding Boeing in his charitable trust portfolio despite being upset by the airplane maker's latest production issues. Boeing fell about 3% on Tuesday, making it the worst performer in the 30-stock Dow Jones Industrial Average . Wall Street was reacting to news that Boeing lowered its delivery target for its 787 Dreamliner planes and will also temporarily reduce production rates for the wide-body jets after a new defect was discovered. It represents yet another setback for the 787 Dreamliner and the company writ large. "I'm sick about what's happening — sick," Cramer said on "Squawk on the Street." "Everybody should be because Boeing is a national treasure." "They are so lucky that it's just Airbus," Cramer added, referring to Boeing's European rival. The two companies are the world's primary producers of passenger airplanes. "I mean, if this were Morgan Stanley versus Goldman Sachs versus JPMorgan , they'd be losing share left and right. But it's more Pepsi versus Coke , and, in the end, people still drink soda." Cramer's charitable trust owns shares of Boeing. The "Mad Money" host has talked, on numerous occasions, about the company being a solid way for investors to play the reopening of the U.S. economy from pandemic-related disruptions. He maintained that investment thesis Tuesday, even as he said he "cannot believe, frankly, the endless stream of bad news." "Why do I stick with my Boeing for my charitable trust other than the fact that I'm a knucklehead? Because I genuinely believe that when travel returns," Boeing will be a real beneficiary, Cramer said. At the same time, Cramer acknowledged that Boeing has "one of the worst set of facts" he's dealt with. In addition to the business slowdown wrought by the pandemic, Boeing has faced a series of technical challenges, on top of the two fatal crashes involving 737 Max jets that killed 346 people and led to a 20-month grounding of Max planes. In November, the 737 Max received Federal Aviation Administration clearance to fly passengers again. But in April, more than 100 of those planes were temporarily pulled from service to address a manufacturing problem involving their electrical power system. In May, the FAA signed off on the electrical fix, clearing the way for Boeing to restart deliveries of the 737 Max and for airlines to begin the process of repairing the planes and returning them to skies. Boeing has halted deliveries of 787 Dreamliner on two occasions in the past 12 months, the most recent of which came in May . The first pause began last year due to production problems and ended in late March . As of late morning trading Tuesday, shares of Boeing were up around 8% year to date and up more than 31% in the past 12 months. That compares to the Dow's 14% year-to-date advance and nearly 34% gain since mid-July 2020.
A Boeing plane sits on the tarmac at the Boeing South Carolina Plant in North Charleston, South Carolina, March 25, 2018.
Randall Hill | Reuters