In this article, we will look at the top 5 aerospace stock picks of Mario Gabelli’s GAMCO Investors. If you want to read about Mario Gabelli’s hedge fund performance and why he is bullish on the aerospace sector, you can go to Top 10 Aerospace Stocks To Buy According To Billionaire Mario Gabelli’s GAMCO Investors.
5. Curtiss-Wright Corporation (NYSE:CW)
GAMCO Investors’ Stake Value: $29,191,000
Percentage of GAMCO Investors’ 13F Portfolio: 0.32%
Number of Hedge Fund Holders: 21
Curtiss-Wright Corporation (NYSE:CW) is a leading global manufacturer and provider of engineered products, solutions, and services for the aerospace, defense, general industrial, and power generation markets. The company has three business divisions: Aerospace & Industrial, Defense Electronics, and Naval & Power.
On September 6, Curtiss-Wright Corporation (NYSE:CW) announced that it has secured contracts worth $120 million from the U.S. Navy, to develop generators for its next-generation Columbia-class submarine.
Wall Street analysts are bullish on Curtiss-Wright Corporation (NYSE:CW). This July, Stifel analyst Nathan Jones revised his price target on Curtiss-Wright Corporation (NYSE:CW) to $155 from $168 and maintained a Buy rating on the shares. On July 19, Truist analyst Michael Ciarmoli adjusted his price target on Curtiss-Wright Corporation (NYSE:CW) to $160 from $167 and reiterated a Buy rating on the shares.
At the end of Q2 2022, 21 hedge funds were long Curtiss-Wright Corporation (NYSE:CW) and held stakes worth $177.5 million. This is compared to 22 positions in the previous quarter with stakes worth $162.7 million. As of June 30, GAMCO Investors’ stakes in Curtiss-Wright Corporation (NYSE:CW) are valued at $29 million.
4. Honeywell International Inc. (NYSE:HON)
GAMCO Investors’ Stake Value: $60,798,000
Percentage of GAMCO Investors’ 13F Portfolio: 0.66%
Number of Hedge Fund Holders: 42
Honeywell International Inc. (NYSE:HON) is a diversified manufacturing and technology conglomerate. The company operates through four segments: aerospace, building technologies, performance materials & technologies, and safety & productivity solutions. The company is a leading provider of auxiliary power units, propulsion engines, integrated avionics, and radar & surveillance systems, among other products and services for the aerospace industry.
Wall Street analysts see material upside to Honeywell International Inc. (NYSE:HON). On July 29, Barclays analyst Julian Mitchell raised his price target on Honeywell International Inc. (NYSE:HON) to $210 from $204 and reiterated a buy-side Overweight rating on the shares. This July, JPMorgan analyst Stephen Tusa raised his price target on Honeywell International Inc. (NYSE:HON) to $190 from $180 and maintained an Overweight rating on the shares.
At the close of Q2 2022, 42 hedge funds were eager on Honeywell International Inc. (NYSE:HON) and held stakes worth $1.02 billion in the company. Of those, $60.7 million were of GAMCO Investors. The investment covers 0.66% of Mario Gabelli’s 13F portfolio.
3. Kaman Corporation (NYSE:KAMN)
GAMCO Investors’ Stake Value: $72,516,000
Percentage of GAMCO Investors’ 13F Portfolio: 0.79%
Number of Hedge Fund Holders: 13
Kaman Corporation (NYSE:KAMN) is a leading American aerospace company that also provides products and services for the medical and industrial markets. The company does business through three divisions: Engineered Products, Precision Products, and Structures. As of June 30, GAMCO Investors’ stakes in Kaman Corporation (NYSE:KAMN) are valued at $72.5 million. The investment covers 0.79% of Mario Gabelli’s 13F portfolio.
On June 14, CJS Securities analyst Larry Solow initiated coverage of Kaman Corporation (NYSE:KAMN) with a buy-side Outperform rating and a $45 price target. As of September 19, Kaman Corporation (NYSE:KAMN) is trading at $30 and is offering a forward dividend yield of 2.66%.
On August 15, Kaman Corporation (NYSE:KAMN) announced that the company has secured a $38 million contract from The Boeing Company (NYSE:BA) for assisting the engineering of 650 arming fuze systems for the Standoff Land Attack Missile Expanded Response, or SLAM-ER, program. On September 16, Kaman Corporation (NYSE:KAMN) announced that it has acquired Parker-Hannifin Corporation’s (NYSE:PH) Aircraft Wheel & Brake business, a leading provider of mission-critical wheel and brake technologies.
At the end of Q2 2022, 13 hedge funds held stakes in Kaman Corporation (NYSE:KAMN). The total value of these stakes amounted to $127.3 million. This is compared to 9 positions in the previous quarter with stakes worth $160.5 million.
2. Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD)
GAMCO Investors’ Stake Value: $112,456,000
Percentage of GAMCO Investors’ 13F Portfolio: 1.23%
Number of Hedge Fund Holders: 26
Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) is a leading American manufacturer of rocket, hypersonic, and electric propulsive systems for applications in space, defense, civil and commercial markets. As of September 19, Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) has gained 5.91% over the past twelve months.
On August 9, Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) announced the opening of a new 51,000-square-foot facility at its Arkansas site, dedicated to solid rocket motor manufacturing. On August 16, Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) announced the opening of the first U.S.-based Stored Chemical Energy Propulsion System manufacturing facility, which will develop next-generation torpedoes for the U.S. navy.
As of June 30, GAMCO Investors’ stakes in the company sit at $112.45 million, and the stock is ranked among Mario Gabelli’s top ten 13F holdings.
At the close of the second quarter of 2022, 26 hedge funds were long Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) with stakes worth $772 million. This is compared to 29 hedge funds in the previous quarter with stakes worth $730.9 million.
1. Textron Inc. (NYSE:TXT)
GAMCO Investors’ Stake Value: $113,348,000
Percentage of GAMCO Investors’ 13F Portfolio: 1.24%
Number of Hedge Fund Holders: 23
Textron Inc. (NYSE:TXT) is a diversified aerospace and defense company that also serves in the industrial and financial services markets. On July 21, Textron Inc. (NYSE:TXT) announced that it has secured a roughly $354 million contract from the U.S. Army to manufacture and supply XM204 top attack munitions.
On July 28, Textron Inc. (NYSE:TXT) released earnings for the second quarter of fiscal 2022. The company reported earnings per share of $1.00 and beat estimates by $0.12. Textron Inc. (NYSE:TXT) generated a revenue of $3.15 billion for the quarter.
On July 29, Susquehanna analyst Charles Minervino revised his price target on Textron Inc. (NYSE:TXT) to $84 from $90 and maintained a Positive rating on the shares. On September 13, Bernstein analyst Douglas Harned initiated coverage of Textron Inc. (NYSE:TXT) with a Market Perform rating and a $74 price target.
At the end of the second quarter of 2022, 23 hedge funds were bullish on Textron Inc. (NYSE:TXT). The total stakes of these hedge funds amounted to $787 million. Of those, $113 million were of GAMCO Investors. The investment covers 1.24% of Mario Gabelli’s 13F portfolio.
You can also take a look at 10 Best Aerospace Stocks to Buy Now and Billionaire Mario Gabelli’s Top 10 Stock Picks.
