3 Top Automation Stocks To Watch Right Now

As the stock market continues to show volatility, investors are maneuvering with caution. With that said, many are still on the lookout for the next big breakthrough. Well, automation stocks may potentially fit the bill. After all, it does appear that the future will be very different from how it is today. We are seeing increasing adoption of artificial intelligence (AI) and automation and the reason is obvious. Automations are designed to provide improvements in safety, higher productivity, and a general simplification of routine tasks. Hence, many industries are already exploring the use of automation which has proven to be a success. 

For instance, Intuitive Surgical’s (NASDAQ: ISRG) leading surgical robotic units continue to see increasing adoption in the health care industry. During the company’s recent fourth-quarter business update, it shipped 385 da Vinci Surgical Systems worldwide. This represents an increase of 18% year-over-year. Also, worldwide da Vinci procedures increased by approximately 19% compared to the previous year’s quarter. 

On top of that, even the exciting autonomous vehicle (AV) industry relies on a form of automation. Recently, Magna (NYSE: MGA) announced that it has acquired the autonomous shuttle startup Optimus Ride. This would further solidify the company’s capabilities in the field of autonomous driving. Whether we like it or not, automation would likely play a significant role in shaping the future. With that in mind, here is a list of some of the top automation stocks in the stock market today.

Best Automation Stocks To Watch This Week


Honeywell is a technology and manufacturing company. Essentially, the company’s technologies help aircraft, buildings, manufacturing plants, and workers to be more connected to make the world smarter, safer, and more sustainable. Also, Honeywell Intelligrated offers one of the broadest portfolios of advanced automation technologies and software in the industry. This includes the latest warehouse robotics to a hybrid solution that combines the strength of multiple technologies.

Earlier this month, Honeywell and Acalvio Technologies announced the launch of a new solution to detect known and unknown attacks across the operational technology environments in commercial buildings. So, the Honeywell Threat Defense Platform that is powered by Acalvio features autonomous deception tactics that could outsmart attackers. It will also provide high-fidelity threat detection. As the complexity of cyberattacks continues to rise, this new solution will slow down adversaries and help security teams capture them faster. 

Furthermore, the company also collaborated with FREYR Battery (NYSE: FREY) to deploy energy storage solutions. Under the terms of the agreement, Honeywell will purchase 19 GWh of battery cells produced by FREYR for a multitude of energy storage system applications. Together, both companies have the goal to provide smart energy solutions to address the increasing needs of a wide range of commercial and industrial customers. Some believe that battery storage will be important for organizations to transition to clean power generation. Hence, Honeywell could be well-positioned for long-term gains as clean green energy continues to gain traction. With that said, would you consider HON stock a top automation stock to watch?

HON stock chart
Source: TD Ameritrade TOS

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Rockwell Automation

Another top automation company in the world today is Rockwell. Put simply, the company is a provider of industrial automation and digital transformation solutions. In fact, it is the largest company in the world that is dedicated to industrial automation and information. Known for its flagship Allen‑Bradley® and FactoryTalk® product brands, the company is recognized for excellence around the globe. Impressively, ROK stock has risen more than 20% over the past year.

Rockwell is not one that easily rests on its laurels. Despite its dominance in the industrial automation industry, the company still strives to adapt to global trends. We saw the company announce that it completed 10 global energy conservation projects in the fiscal year 2021 in pursuit of carbon neutrality. These projects are projected to eliminate more than 4,500 metric tons of carbon dioxide annually. On a sense of scale, this is equivalent to taking more than 1,000 cars off the road and saving enough energy to power more than 600 homes. Additionally, nine energy conservation projects are underway for a further reduction of 2,100 metric tons.

With the company announcing its fiscal first-quarter earnings report later this week, prospective investors will be watching if it could keep up its momentum from the previous quarter. Despite the disruptions caused by COVID-19, Rockwell still ended its full-year fiscal 2021 in flying colors. During its fourth quarter, quarterly orders were a record $2.2 billion, an increase of 40% year-over-year. Meanwhile, its sales increased by 15.1% to $1.8 billion. On top of that, the company believes that 2022 will be a breakout year. Given these considerations, would you add ROK stock to your portfolio ahead of its earnings report?

ROK stock chart
Source: TD Ameritrade TOS

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Unlike the previous two entries, Uipath is a company that focuses on automation software. In detail, it offers an end-to-end platform for automation. By combining the Robotics Process Automation (RPA) solution with a suite of capabilities, it enables organizations to scale digital business operations. Moreover, the company’s platform leverages artificial intelligence-based computer vision to enable its software robots to perform an array of actions as a human would. So, it should not be surprising that investors are always on the lookout for PATH stock in this day and age. 

Due to the pandemic, many industries have seen a shortage of labor. In fact, a survey by UiPath showed that 62% of executives at large U.S. companies are struggling with the current shortage. As a result, 78% of them are likely to invest or increase their investment in automation to manage through the impact of higher-than-normal turnover rates. Besides that, 86% of executives surveyed believe that automation can allow their employees to focus more on creative work as compared to mundane and repetitive tasks. Therefore, this increasing adoption would bode well with what UiPath has to offer. 

Not to mention, the company has also partnered with Avison Young to deliver a better real estate experience. For those unaware, Avison Young is a tech-driven commercial real estate services firm. So, it will deploy UiPath enterprise automation software to increase the power of its predictive analytics and real estate data. In turn, this will provide brokers and client-facing professionals with faster and more valuable insights on properties to inform client solutions. All things considered, would the current valuation of PATH stock make it an interesting prospect?

path stock chart
Source: TD Ameritrade TOS

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