Mario Gabelli Stock Portfolio: 10 Best Stocks to Buy

7) Textron Inc. (NYSE:TXT)

GAMCO Investors’ Stake Value: $129.5 million

Percentage of GAMCO Investors’ 13F Portfolio: 1.4%

Number of Hedge Fund Holders: 26

Textron Inc. (NYSE:TXT) is a conglomerate, engaged in designing, manufacturing, and servicing specialty aircraft for various end markets. The firm’s aviation segment manufactures and services Cessna and Beechcraft business aircraft.

Textron Inc. (NYSE:TXT) has a robust brand recognition. This, together with its extensive product mix, should fuel the company’s growth prospects for the upcoming quarters. This is because these abilities enable it to generate revenue from multiple streams. Thanks to its robust portfolio, mainly Aviation segment, it grew its top line by 4% and its bottom line by 10% over the previous 3 years.

In 2Q 2024, the company saw revenues of $3.5 billion, up from the previous year’s $3.4 billion. The increase in revenue was led by higher Textron Aviation revenues (reflecting increased pricing), and higher Bell revenues (largely due to higher military volume). Textron Inc. (NYSE:TXT) anticipates continued strong margins and profitability, mainly in the aviation segment. The growth is also expected in international markets, mainly with the new Ascend jet.

Also, technology investments in the aviation sector might support the company’s business areas.

Citigroup upped its price target on shares of Textron Inc. (NYSE:TXT) from $111.00 to $115.00, giving a “Buy” rating on 22^nd July. As of the end of 2Q 2024, Insider Monkey’s data indicates that 26 out of the 912 hedge funds profiled were shareholders of Textron Inc. (NYSE:TXT).