In this piece, we will take a look at some of Mario Gabelli’s favorite stocks. If you want to go through our overview of Gabelli’s recent activity and his views on Paramount, you can go to Mario Gabelli on Paramount and Other Stocks.
5. Deere & Company (NYSE:DE)
Mario Gabelli’s Stake in Q4 2023: $70.5 million
One-Year Returns as of May 7: 6.66%
Headquartered in Moline, Illinois, Deere & Company (NYSE:DE) is a leading agricultural and farm machinery manufacturer. It specializes in producing and distributing a wide range of agricultural equipment, including tractors, combines, and cotton pickers and strippers.
On March 14, analysts at Truist Securities initiated coverage on Deere & Company (NYSE:DE) with a Buy rating and set a $494 price target.
As of the end of the last year’s fourth quarter, Insider Monkey’s analysis revealed that 54 out of the 933 hedge funds profiled were stakeholders in the firm. The largest shareholder among hedge funds in Deere & Company (NYSE:DE) is Michael Larson’s Bill & Melinda Gates Foundation Trust, with a $1.4 billion investment.
4. Ryman Hospitality Properties, Inc. (NYSE:RHP)
Mario Gabelli’s Stake in Q4 2023: $115.24 million
One-Year Returns as of May 7: 13.24%
Ryman Hospitality Properties, Inc. (NYSE:RHP) is a real estate investment trust specializing in upscale convention center resorts and entertainment offerings within the lodging and hospitality sector. Named after one of its notable assets, the Ryman Auditorium, a National Historic Landmark located in Nashville, Tennessee.
For the quarter ending in March, Ryman Hospitality Properties, Inc. (NYSE:RHP) reported quarterly funds from operations (FFO) of $1.60 per share, compared to $1.89 per share in the same period last year. These figures are adjusted for non-recurring items. The reported FFO represents a surprise of -8.57%. In the previous quarter, analysts had expected FFO of $1.99 per share, but Ryman Hospitality Properties, Inc. (NYSE:RHP) managed to deliver $2.08 per share, resulting in a positive surprise of 4.52%.
According to Insider Monkey’s fourth quarter database, 26 hedge funds were bullish on Ryman Hospitality Properties, Inc. (NYSE:RHP), compared to 20 funds in the earlier quarter. GAMCO Investors is the biggest stakeholder of the company, with 1.04 million shares worth $115.24 million.
3. Textron Inc (NYSE:TXT)
Mario Gabelli’s Stake in Q4 2023: $130 million
One-Year Returns as of May 7: 33.15%
Textron Inc. (NYSE:TXT) is a renowned American industrial conglomerate headquartered in Providence, Rhode Island, known for its cutting-edge defense, government, and aerospace technologies and services. Among its notable subsidiaries are Arctic Cat, Bell Textron, Textron Aviation, and Lycoming Engines. Established by Royal Little in 1923 under the name Special Yarns Company.
As of the end of last year’s fourth quarter, Insider Monkey’s data indicates that 28 out of the 933 hedge funds profiled were shareholders of Textron Inc. (NYSE:TXT). Mario Gabelli’s GAMCO Investors holds the largest hedge fund stake in the company with a $130 million investment.
2. GATX Corporation (NYSE:GATX)
Mario Gabelli’s Stake in Q4 2023: $172.5 million
One-Year Returns as of May 7: 15.75%
GATX Corporation (NYSE:GATX) operates as a railcar lessor, managing fleets across North America, Europe, and Asia. Additionally, it holds a significant aircraft spare engine lease portfolio, jointly owned with Rolls-Royce Limited. Gabelli states that he has held GATX in his portfolio for 35 years. While its growth has been gradual, it also offers consistent dividends and he appreciates the company’s commitment to stock buybacks as well.
On April 26, GATX Corporation (NYSE:GATX) announced a quarterly dividend of $0.58 per common share. The dividend is set to be paid on June 30, 2024, to shareholders of record as of June 14, 2024. This quarterly dividend remains unchanged from the previous quarter.
At the end of the fourth quarter of 2023, 15 hedge funds in the database of Insider Monkey held stakes worth $193.2 million in GATX Corporation (NYSE:GATX), compared to 15 in the previous quarter worth $192.1 million.
1. Herc Holdings Inc. (NYSE:HRI)
Mario Gabelli’s Stake in Q4 2023: $239.8 million
One-Year Returns as of May 7: 45.0%
Herc Holdings Inc. (NYSE:HRI), along with its subsidiaries, functions as an equipment rental supplier across the United States and globally. Its rental inventory includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment.
As of the conclusion of the fourth quarter of 2023, Insider Monkey’s database revealed that 27 hedge funds held stakes in Herc Holdings Inc. (NYSE:HRI), valued at $714.8 million. This is compared to 28 hedge funds in the previous quarter that held stakes totaling $598 million. Mario Gabelli is the company’s largest shareholder.
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