In this article, we discuss the 5 American manufacturing stocks to buy now. If you want to read about some more American manufacturing stocks, go directly to “Still Optimistic”: 10 American Manufacturing Stocks to Buy Now.
5. Generac Holdings Inc. (NYSE:GNRC)
Number of Hedge Fund Holders: 34
Generac Holdings Inc. (NYSE:GNRC) designs, manufactures, and sells power generation equipment, energy storage systems, and other power products. The firm features on the list of American manufacturing stocks to buy now as it markets engines, alternators, batteries, electronic controls, steel enclosures, and residential automatic standby generators, including the flagship Mobile Link, a remote monitoring system for home standby generators. The firm was founded in 1959 and is based in Wisconsin.
On August 8, JPMorgan analyst Mark maintained an Overweight rating on Generac Holdings Inc. (NYSE:GNRC) stock and raised the price target to $421 from $415, noting the firm would benefit from the Inflation Reduction Act.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm Impax Asset Management is a leading shareholder in Generac Holdings Inc. (NYSE:GNRC), with 846,161 shares worth more than $177 million.
In its Q2 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Generac Holdings Inc. (NYSE:GNRC) was one of them. Here is what the fund said:
“On a securities level, our top contributors (includes) Generac Holdings Inc. (NYSE:GNRC). All these businesses performed well fundamentally. For Generac, the leading provider of residential standby generators, fundamentals remained strong, but there was little to highlight from the quarter.”
4. Carrier Global Corporation (NYSE:CARR)
Number of Hedge Fund Holders: 41
Carrier Global Corporation (NYSE:CARR) provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. The company is one of the most prominent American manufacturing stocks to buy now. On July 28, the company posted earnings for the second quarter of 2022, reporting earnings per share of $0.69, beating market estimates by $0.07. The revenue over the period was $5.2 billion. On July 18, Mizuho analyst Brett Linzey maintained a Neutral rating on Carrier Global Corporation (NYSE:CARR) stock and lowered the price target to $38 from $45.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Carrier Global Corporation (NYSE:CARR), with 6.67 million shares worth more than $238 million.
In its Q3 2021 investor letter, Davis Funds, an asset management firm, highlighted a few stocks and Carrier Global Corporation (NYSE:CARR) was one of them. Here is what the fund said:
“In the industrial space, we own a select list of well-entrenched market leaders, such as Carrier Global Corporation (NYSE:CARR), a global leader in heating, ventilation and air conditioning (HVAC) solutions. These have recovered this year from their lulls in 2020, yet continue to trade at reasonable multiples of subdued earnings, creating a potential setup for the double play of recovering multiples on recovering earnings.”
3. Caterpillar Inc. (NYSE:CAT)
Number of Hedge Fund Holders: 45
Caterpillar Inc. (NYSE:CAT) manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. The firm is among the best American manufacturing stocks to buy now. In late August, the company announced that it had signed a deal with BHP Group to replace the haul truck fleet of the latter at the Escondida copper mine in Chile. Under the deal, Caterpillar will deliver the first of its 798 AC electric trucks by the second half of next year. On August 3, UBS analyst Steven Fisher maintained a Buy rating on Caterpillar Inc. (NYSE:CAT) stock and lowered the price target to $225 from $250.
At the end of the second quarter of 2022, 45 hedge funds in the database of Insider Monkey held stakes worth $3.2 billion in Caterpillar Inc. (NYSE:CAT), compared to 54 in the previous quarter worth $4 billion.
In its Q1 2022 investor letter, Diamond Hill Capital, an asset management firm, highlighted a few stocks and Caterpillar Inc. (NYSE:CAT) was one of them. Here is what the fund said:
“We also initiated a position in Caterpillar (NYSE:CAT), one of the world’s leading manufacturers of construction and mining equipment. It’s a company we know well, as we have owned it in our large cap portfolio for quite some time. Recent share price weakness provided an opportunity for us to add it to our large cap concentrated portfolio at an attractive discount to our estimate of intrinsic value. We believe Caterpillar stands to benefit from increased capital investment supported by a healthier/recovering end market environment, particularly in construction and mining.”
2. Emerson Electric Co. (NYSE:EMR)
Number of Hedge Fund Holders: 47
Emerson Electric Co. (NYSE:EMR) provides various solutions for customers in the industrial, commercial, and residential markets. It is one of the top American manufacturing stocks to buy now. The company has an impressive dividend profile. It has consistently paid a dividend to shareholders for the past twenty-five years. These payouts have also registered consistent growth in these two decades. On August 2, the firm declared a quarterly dividend of $0.515 per share, in line with previous.
On August 16, Argus analyst John Eade maintained a Buy rating on Emerson Electric Co. (NYSE:EMR) stock and raised the price target to $98 from $95, appreciating the earnings beat and strong balance sheet of the firm.
Among the hedge funds being tracked by Insider Monkey, Washington-based firm Citadel Investment Group is a leading shareholder in Emerson Electric Co. (NYSE:EMR), with 9.2 million shares worth more than $233 million.
1. Deere and Company (NYSE:DE)
Number of Hedge Fund Holders: 54
Deere and Company (NYSE:DE) manufactures and distributes various equipment worldwide. It is one of the elite American manufacturing stocks to buy now. On September 12, The Wall Street Journal reported that the company will generate 10% of yearly revenue from software fees by the end of the decade as its farm machinery becomes more technologically advanced. The statement was made by John May, chief executive of Deere and Company (NYSE:DE), in the publication.
On August 24, Argus analyst John Eade maintained a Buy rating on Deere and Company (NYSE:DE) stock and raised the price target to $420 from $390, noting that the earnings of the firm appeared to be back in growth mode.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Deere and Company (NYSE:DE), with 1.5 million shares worth more than $458 million.
In its Q2 2022 investor letter, LRT Capital Management, an asset management firm, highlighted a few stocks and Deere and Company (NYSE:DE) was one of them. Here is what the fund said:
“Deere & Company (NYSE:DE) manufactures machines and equipment, which help the agriculture and construction industries. The company’s production and precision agriculture segment manufacture global equipment and technology solutions for production-scale growers of large grains, small grains, cotton, and sugar. The small agriculture and turf segment develops equipment for dairy and livestock producers, crop producers, and turf and utility customers. Finally, the construction and forestry segment make a range of machines for the earthmoving, forestry, and roadbuilding production systems (…read more)
You can also take a peek at 13 Best Hemp Stocks to Buy Now and Billionaire Dan Loeb’s Top 10 Stock Picks.
