5 Industrial Stocks To Watch Right Now
As we kick off another trading week, industrial stocks could be worth noting in the stock market today. This could be the case thanks to the nation’s industrial sector regaining momentum as the economy recovers. While we are seeing some signs of life among the top growth stocks in the market, the geopolitical risks and inflationary backdrop means volatility is here to stay. Thus, many may still consider less volatile stocks such as those in the industrial space as attractive options. As such, I could see why investors may be keeping tabs on industrial stocks to buy this week.
For instance, we could look at Steel Dynamics (NASDAQ: STLD) which reported its earnings guidance for its upcoming quarter financials. Notably, it expects earnings per share to more than double from the same period last year. Apart from that, we have FedEx (NYSE: FDX) reporting its third-quarter financials. The company brought in revenues that topped expectations and a 32% increase in operating income on a year-over-year basis. With that said, let’s take a look at some of the top industrial stocks in the stock market right now.
Industrial Stocks To Watch Today
- The Boeing Company (NYSE: BA)
- Textron Inc. (NYSE: TXT)
- Heico Corporation (NYSE: HEI)
- Nucor Corporation (NYSE: NUE)
- Deere & Company (NYSE: DE)
Boeing
Starting off our list is a top name in the aerospace industry, Boeing. In short, Boeing is a multinational corporation that designs, manufactures, and sells aerospace equipment. This ranges from airplanes, rotorcrafts, and rockets to satellites and telecommunication wares to name a few. Additionally, the company boasts more than 10,000 Boeing-built commercial airlines that are in service worldwide. This makes up for almost half of the world’s fleet.
Just today, reports said a China Eastern Airlines flight MU5735 crashed into a hillside en route from Kunming to Guangzhou. The plane is believed to be a Boeing 737-89P that has been in operation for about six and a half years. Currently, the cause of the crash is currently unknown and may not be due to the Boeing jet. Hence, investors should stay tuned for the preliminary reports to get a better understanding of the situation. Therefore, will you be watching BA stock as the news develops?
Textron
Another top industrial stock to watch is Textron. The company is primarily engaged with defense, industrial, and aviation companies and is also recognized for its impressive brand portfolio. This includes the likes of Bell, Cessna, Beechcraft, E-Z-GO, and many more. As it stands, the company has a worldwide presence supported by 33,000 employees in more than 25 countries. In the past month, TXT stock has risen by about 10%.
On March 17, Textron announced that it has entered an agreement to purchase Pipistrel. Based in Slovenia and Italy, Pipistrel is an award-winning pioneer and global leader in electrically powered aircraft. Under Textron, Pipistrel will have access to greater resources, expertise, and a global aircraft sales and support network. This would in turn accelerate its development and certification of electric and hybrid-electric aircraft. Accordingly, Textron plans to form a new business segment, Textron eAviation, with the focus on developing sustainable aircraft, which will include Pipistrel. With that in mind, should you be keeping an eye on TXT stock?
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Heico
Heico is a defense company that mainly engages in the manufacture and sale of aerospace and electronic products. Its Flight Support Group segment manufactures jet engine and aircraft replacement parts for commercial and military aircrafts. Meanwhile, its Electronic Technologies Group ETG manufactures and sells various electronic, data, and microwave products including infrared simulation test equipment. Its customers include airlines, overhaul shops, satellite manufacturers, and government agencies to name a few.
Heico last week announced that its subsidiary, Lucix, is acquiring Flight Microwave Corporation. In brief, Flight Microwave designs and manufactures custom high-power filters and filter assemblies used in space and defense applications. As such, this acquisition will effectively expand Lucix’s satellite hardware portfolio. In fact, its products are used by the U.S. Space Force’s Global Positioning System (GPS) III satellite programme and other key U.S. government satellite payloads. Heico expects this acquisition to be accretive to earnings in the year following the purchase. Considering this acquisition, would you be adding HEI stock to your portfolio?
Nucor
Nucor is a manufacturer of steel and steel products. It has facilities in the U.S., Canada, and Mexico. In essence, it produces carbon and alloy steel in bars, beams, sheets, and plates. It also fabricates concrete reinforced steel, precision castings, and steel fasteners. Through its David J. Joseph Company, the company also brokers ferrous and nonferrous metals, pig iron, and hot briquetted iron. Impressively, NUE stock has risen by over 90% in the past year.
Last week, the steel company announced guidance for its first quarter ending April 2022. Namely, the company expects to achieve record first-quarter earnings in the range of $7.20 to $7.30 per diluted share. Moving on, its steel products segment is expected to bring in increased earnings quarter-over-quarter. This is thanks to continued strong non-residential construction-related demand and expanding profit margins. Besides that, earnings for Nucor’s raw materials segment is expected to be in line with its previous quarter’s performance. With this guidance, do you believe that NUE stock has more room to grow?
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Deere & Company
Deere & Company or John Deere is a world leader in providing advanced products and services for the agricultural and construction businesses. With over 180 years of experience and terabytes of precision data, the company knows its business better than anyone else. Impressively, the company offers a portfolio of more than 25 brands that provide a full line of innovative solutions for its customers in a variety of production systems.
Last month, the company acquired full ownership of three Deere-Hitachi joint venture factories. In addition, it has also begun new license and supply agreements with its former partner Hitachi Construction Machinery. Accordingly, the factories will continue to manufacture Deere-branded construction excavators and forestry equipment. And through the new supply agreement, Deere will continue to offer Hitachi a full portfolio of excavators. With this strategic acquisition of the factories, Deere now controls its excavator design, product, and feature updates. Hence, making it possible for Deere to more rapidly respond to customer requirements and the ability to integrate excavators with its other products. Given this, would you invest in DE stock?
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