5 Best Automation Stocks to Buy Now

In this piece, we will take a look at the five best automation stocks to buy now. For more stocks, head on over to 13 Best Automation Stocks to Buy Now.

5. Eaton Corporation plc (NYSE:ETN)

Number of Hedge Fund Investors in Q4 2022: 48

Eaton Corporation plc (NYSE:ETN) is an American firm that provides several different automation software for programming automation components, controlling irrigation systems, data archiving, database access, and other functions. The firm is based in Dublin, Ireland.

Insider Monkey’s Q4 2022 survey of 943 hedge funds revealed that 48 had bought Eaton Corporation plc (NYSE:ETN)’s shares. The firm’s largest hedge fund investor is Ken Griffin’s Citadel Investment Group which owns 1.7 million shares that are worth $273 million.

4. General Electric Company (NYSE:GE)

Number of Hedge Fund Investors in Q4 2022: 59

General Electric Company (NYSE:GE) is an American firm headquartered in Boston, Massachusetts. It provides automation products for power grids, allowing operators to automate substations, monitor power systems, and conduct other operations.

As of December 2022, 59 of the 943 hedge funds polled by Insider Monkey had held a stake in the company. General Electric Company (NYSE:GE)’s largest shareholder in our database is Richard S. Pzena’s Pzena Investment Management which owns 13.2 million shares that are worth $1.1 billion.

3. Applied Materials, Inc. (NASDAQ:AMAT)

Number of Hedge Fund Investors in Q4 2022: 70

Applied Materials, Inc. (NASDAQ:AMAT) is a backend semiconductor company that provides automation software for optimizing fab production and performance. The firm is based in Santa Clara, California.

Insider Monkey took a look at 943 hedge fund portfolios for last year’s fourth quarter and found out that 70 had bought Applied Materials, Inc. (NASDAQ:AMAT)’s shares. David Blood and Al Gore’s Generation Investment Management is the firm’s largest investor as it owns 6.9 million shares that are worth $678 million.

2. Intuitive Surgical, Inc. (NASDAQ:ISRG)

Number of Hedge Fund Investors in Q4 2022: 70

Intuitive Surgical, Inc. (NASDAQ:ISRG) makes and sells robots that help physicians in surgeries. The firm is headquartered in Sunnyvale, California.

70 of the 943 hedge funds part of Insider Monkey’s Q4 2022 survey had invested in the company. Intuitive Surgical, Inc. (NASDAQ:ISRG)’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management which owns 4.3 million shares that are worth $1.1 billion.

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Investors in Q4 2022: 105

NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor designer and products provider that enables network automation. Additionally, its Jetson products have enabled BMW to build automotive factories. The firm is based in Santa Clara, California.

Insider Monkey dug through 943 hedge funds for their December quarter of 2022 shareholdings and found out that 105 had held a stake in NVIDIA Corporation (NASDAQ:NVDA). Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor as it owns ten million shares that are worth $1.4 billion.

Disclosure: None. You can also take a look at 12 Cheapest Penny Stocks According to Analysts and Top 10 Growth Stocks in Cybersecurity.

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