Industrial stocks are a type of investment that refers to stocks in companies that are involved in the production of goods and services. This can include manufacturing, transportation, and energy companies, among others. For example, some of the more notable industrial companies among stock market investors today are names such as Caterpillar Inc. (NYSE: CAT), Boeing (NYSE: BA), and Honeywell International (NYSE: HON) Industrial stocks tend to be less volatile than other types of stocks. Resulting in making them a popular choice for investors who are looking for stability.
Additionally, industrial stocks also tend to pay higher dividends than other stocks. As such, making them an attractive option for income-seeking investors. However, these stocks may also be sensitive to economic cycles. This means it’s important to monitor the health of the overall economy when making investment decisions. Because of this, investors might be keen to put top industrial stocks on watch in the stock market today. Should that be the case for you, check out three more industrial companies to take note of.
Industrial Stocks To Watch In October 2022
- United Parcel Service Inc. (NYSE: UPS)
- Deere & Company (NYSE: DE)
- Lockheed Martin Corporation (NYSE: LMT)
1. United Parcel Services (UPS Stock)
Kicking off the list today is United Parcel Services Inc. (UPS). Simply put, United Parcel Service (UPS) is an American multinational package delivery and supply chain management company. For a sense of size, UPS manages a fleet of more than 500 planes and 100,000 vehicles. As well as delivering an average of approximately 25 million packages per day to residences and businesses worldwide.
UPS Recent Stock News
At the beginning of August, UPS announced its quarterly dividend of $1.52 per share. As a result, UPS shareholders are currently getting an annual dividend yield of 3.75%.
Aside from that, at the end of July, the company announced better-than-expected second-quarter 2022 earnings results. In Q2 2022, United Parcel Services posted earnings of $3.29 per share with revenue of $24.8 billion. This is compared with Wall Street’s consensus estimates for the 2nd quarter of 2022, which were earnings of $3.14 per share, and revenue of $24.6 billion. In addition, the company reaffirmed its full-year 2022 revenue estimates of approximately $102 billion.
Carol Tomé, UPS chief executive officer commented, “While the external environment is ever-changing, our better not bigger strategic framework has fundamentally improved nearly every aspect of our business, enabling greater agility and strong financial performance.”
UPS Stock Chart
As of Tuesday morning’s trading session, shares of UPS stock are trading at $165.72 a share. Though, UPS stock is still down over 22% in 2022 thus far. With all this being said, could now be the ideal time to pick up shares of UPS stock at potential discounted price levels?
2. Deere & Company (DE Stock)
Second, we have Deere & Company (DE). The company is an American corporation that manufactures and markets agricultural, construction, and forestry machinery, diesel engines, and drivetrains for trucks, tractors, and other heavy equipment. Deere & Company is one of the largest manufacturers of agricultural equipment in the world and is a major player in the construction and forestry equipment markets.
DE Recent Stock News
At the end of August, Deere & Company’s announced its Board of Directors declared a quarterly dividend of $1.13 per share on common stock. This results in an annual dividend yield for DE shareholders of 1.31%. Also in August, the company reported weaker-than-expected third-quarter 2022 financial results.
Getting straight into it, in the 3rd quarter of 2022 Deere & Company reported earnings of $6.16 per share, with revenue of $14.1 billion. Meanwhile, the consensus estimate was earnings of $6.64 per share with revenue of $12.9 billion. The company also reported a 22.3% increase in revenue during the same period, a year prior. Furthermore, DE said it now estimates a full-year 2022 net income of $7 billion to $7.2 billion, or earnings of an estimated $22.90 to $23.55 per share.
John C. May, Chairman, and CEO said this in the company’s release to shareholders, “Looking ahead, we believe favorable conditions will continue into 2023 based on the strong response we have experienced to early-order programs. We are working closely with our factories and suppliers to meet higher levels of customer demand next year. Additionally, we are confident the company’s smart industrial strategy and leap ambitions will continue unlocking new value for customers through Deere’s advanced technologies and solutions.“
DE Stock Chart
Year-to-date Deere & Company stock has outperformed the broader markets as shares are relatively flat on the year so far. With that, shares of DE stock are trading higher on Tuesday morning up over 2% at $352.77 a share. Given all of this, should you be adding Deere & Company (DE) stock to your list of industrial stocks to watch in the stock market today?
[Read More] 2 Dividend Stocks To Watch In October 2022
3. Lockheed Martin Corporation (LMT Stock)
Closing out this list of industrial stocks, let’s dive into Lockheed Martin Corporation (LMT). In brief, Lockheed Martin is one of the world’s leading aerospace, defense, and security companies. In addition, LMT is mainly engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products. Specifically, the company’s products and services include aircraft engines, integrated air, and missile defense systems, cybersecurity solutions, satellite communications systems, and space exploration technologies.
LMT Recent Stock News
In recent news, on September 30, 2022, the company announced its fourth-quarter 2022 dividend. Diving in, LMT’s Board of Directors has declared the 4th quarter of 2022 dividend of $3.00 per share. This dividend represents an increase of $0.20 per share from the previous quarter. What’s more, the dividend is payable on December 30, 2022, to shareholders of record as of the close of business on December 1, 2022. As a result, Lockheed Martin shareholders get an annual dividend yield of 2.82%.
LMT Stock Chart
On a separate note, LMT stock has also outperformed the broader markets in 2022 so far. Shares of LMT stock are up over 14% in 2022 so far and are currently trading at $404.48 a share as of Tuesday morning. Given all of this, is LMT stock worth investing in today?