5 Best Industrial Machinery Stocks to Invest in

In this piece, we will take a look at the five best industrial machinery stocks to invest in. For a deeper dive into the industrial machinery industry, you can read 10 Best Industrial Machinery Stocks to Invest in.

5. Emerson Electric Co. (NYSE:EMR)

Number of Hedge Fund Investors In Q4 2023: 50

Emerson Electric Co. (NYSE:EMR) makes and sells valves, actuators, pressure sensing equipment, and other associated products. Like several other industrial stocks on our list, the shares are up year to date. They surged in February 2024 after the firm’s latest earnings that revealed a 22% annual revenue growth and a 56% earnings growth.

During Q4 2023, 50 out of the 933 hedge funds covered by Insider Monkey’s database were Emerson Electric Co. (NYSE:EMR)’s shareholders. Phill Gross and Robert Atchinson’s Adage Capital Management owned the biggest stake which was worth $342 million.

4. Deere & Company (NYSE:DE)

Number of Hedge Fund Investors In Q4 2023: 54

Deere & Company (NYSE:DE) is the well known American construction and agricultural equipment manufacturer. The firm has been doing well on the financial front as of late, since it has beaten analyst EPS estimates in all four of its latest quarters.

By the end of last year’s fourth quarter, 54 out of the 933 hedge funds profiled by Insider Monkey were the firm’s stakeholders. The largest Deere & Company (NYSE:DE) hedge fund shareholder is Michael Larson’s Bill & Melinda Gates Foundation Trust through its $1.4 billion investment.

3. Parker-Hannifin Corporation (NYSE:PH)

Number of Hedge Fund Investors In Q4 2023: 63

Parker-Hannifin Corporation (NYSE:PH) is a specialty industrial machinery company that sells fuel systems, hydraulic systems, and other associated products that are used in airplanes. With the first quarter of 2024 ending, the firm is at the center of some positive share purchases. One such purchase came from Raymond James, who upped its stake to $87 million.

As of December 2023 end, 63 out of the 933 hedge funds covered by Insider Monkey’s research had bought Parker-Hannifin Corporation (NYSE:PH)’s shares. Ric Dillon’s Diamond Hill Capital was the biggest investor as it held a $450 million stake.

2. Eaton Corporation plc (NYSE:ETN)

Number of Hedge Fund Investors In Q4 2023: 63

Eaton Corporation plc (NYSE:ETN) is an Ireland based company that makes and sells a variety of industrial machinery and products such as pumps, motors, and aircraft flaps. Its investors were in for some great news in February 2024, when Eaton Corporation plc (NYSE:ETN) increased its dividend to 94 cents for a 9% increase.

Insider Monkey scoured through 933 hedge fund portfolios for their final quarter of 2023 shareholdings to discover that 63 had bought a stake in the company. Eaton Corporation plc (NYSE:ETN)’s largest stakeholder among these was Philippe Laffont’s Coatue Management through its $960 million investment.

1. General Electric Company (NYSE:GE)

Number of Hedge Fund Investors In Q4 2023: 92

General Electric Company (NYSE:GE) is an American industrial machinery company that sells aircraft components, power generation products, and other heavy duty equipment. The firm is heading for a historic three way spinoff in April 2024, that will create three companies focusing on aerospace, healthcare, and power.

92 out of the 933 hedge funds covered by Insider Monkey’s Q4 2023 database had invested in General Electric Company (NYSE:GE). Chris Hohn’s TCI Fund Management was the biggest shareholder through its $5.3 billion stake.

Disclosure: None. You can also take a look at the 10 NASDAQ Stocks with Biggest Upside and 15 US States that have the Death Penalty.

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