Billionaire Gabelli’s 5 Stock Picks with Huge Upside Potential

2. Kaman Corporation (NYSE:KAMN)

GAMCO Investors’ Stake Value: $48,897,355

Upside Potential as of November 28: 49.85%

Founded in 1945, Bloomfield, Connecticut-based, Kaman Corporation (NYSE:KAMN) conducts business in the aerospace & defense, industrial, and medical markets. It provides aircraft bearings and components; super precision ball bearings; spring energized seals, springs, and contacts; wheels, brakes and related hydraulic components for helicopters, fixed-wing, and UAV aircraft; aerostructures; and safe and arming solutions for missile and bomb systems, among others.

On November 1, Kaman Corporation (NYSE:KAMN) released its financial results for the third quarter of 2023. Its revenues increased by 6% y-o-y to $183 million, while it reported a net income of $1.5 million, compared to a net loss of $0.3 million. At $0.10, its normalized EPS surpassed consensus estimates by $0.02.

As of Q3 2023, 14 of the 910 hedge funds tracked by Insider Monkey were long Kaman Corporation (NYSE:KAMN) and held shares worth $92 million. Mario Gabelli’s GAMCO Investors was its largest hedge fund shareholder with ownership of 2.5 million shares valued at $49 million. The stock accounted for 0.56% of the firm’s portfolio.