Industrial stocks are a popular choice for investors who are interested in the manufacturing and production sector. These stocks represent companies involved in the production and distribution of goods, from raw materials to finished products. This sector is broad and encompasses a variety of industries, including aerospace, defense, construction, and machinery.
Investing in industrial stocks can provide exposure to a diverse range of businesses and can offer the potential for growth, particularly if the economy is expanding. The performance of industrial stocks can be influenced by various factors, including changes in consumer demand, supply chain disruptions, and government policies. Additionally, technological advancements in the sector can also lead to increased efficiency and growth opportunities for industrial companies.
Overall, investing in industrial stocks can offer an attractive opportunity for investors seeking to diversify their portfolios and capitalize on long-term growth in the manufacturing and production sector. However, it’s important to consider the specific characteristics and risks of each industrial company before making an investment. With this being said, let’s check out three industrial stocks for your stock market watchlist today.
Industrial Stocks to Watch Right Now
- Honeywell International Inc. (NASDAQ: HON)
- Illinois Tool Works (NYSE: ITW)
- Rockwell Automation Inc. (NYSE: ROK)
Honeywell International (HON Stock)
Starting the list off is Honeywell International (HON). To start, Honeywell International is a multinational conglomerate company that provides advanced technology and solutions for various industries such as aerospace, building technologies, and performance materials. The company’s diverse range of products and services has made it a leading player in the industrial sector.
This month, Honeywell International reported its Q4 2022 financial results. Diving in, the company reported earnings per share of $2.52 and revenue of $9.2 billion. This was higher than the expected earnings of $2.49 per share on revenue of $9.3 billion. In comparison to the previous year, the revenue increased by 6.1%. Also, the company has projected its earnings for 2023, estimating earnings per share of between $8.80 to $9.20 and revenue of $36.0 billion to $37.0 billion.
Looking since the start of 2023, shares of HON stock have pulled back 4.96% year-to-date. While during Tuesday’s mid-morning trading session, Honeywell International stock is trading modestly lower on the day by 0.18% at $203.66 a share.
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Illinois Tool Works (ITW Stock)
Next, Illinois Tool Works (ITW) is a multinational manufacturer that specializes in producing industrial equipment, consumables, and services. With 87 divisions across seven business segments, the company has a diverse product portfolio that includes offerings for the automotive, construction, food equipment, and specialty industries, as well as test/measurement and electronics, polymers and fluids, and welding.
Just this month, the company also reported its fourth-quarter and full-year 2022 financial and operating results. In detail, Illinois Tool Works notched in Q4 2022 earnings of $2.34 per share, and revenue of $4.0 billion. The company’s revenue experienced a 7.9% increase compared to the same quarter a year prior, while the earnings per share came in slightly lower than the estimated $2.60 per share. For 2023, ITW has projected earnings in the range of $9.40 to $9.80 per share, which is slightly above the current consensus estimate of $9.28 per share for the year ending December 31, 2023.
In 2023 so far, shares of ITW stock have increased by 8.90%. Meanwhile, on Monday mid-morning, ITW stock is trading red on the day by 0.90%, currently trading at $239.93 per share.
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Rockwell Automation (ROK Stock)
Lastly, Rockwell Automation (ROK) is a large provider of industrial automation and information solutions. The company’s products and services are aimed at improving the efficiency, productivity, and safety of various manufacturing processes and industries.
In late January, Rockwell Automation announced its first-quarter 2023 financial results. In the report, the company posted earnings per share of $2.46 and revenue of $2.0 billion. The earnings per share surpassed the estimated $1.81, while revenue increased 6.7% compared to the same quarter a year before. The company also updated its fiscal 2023 guidance, with earnings expected to be in the range of $10.70 to $11.50 per share and revenue estimated between $8.54 billion to $8.85 billion.
Year-to-date we have seen shares of ROK stock gain by 10.31% so far. Moving along, during Monday morning’s trading action, Rockwell Automation stock is trading slightly higher on the day by 0.19% at $288.38 per share.