In this article we discuss the 5 best robotics stocks for 2021. If you want to read our detailed analysis of the robotics industry, go directly to 10 Best Robotics Stocks for 2021.
5. Raytheon Technologies Corporation (NYSE: RTX)
Raytheon Technologies Corporation (NYSE: RTX) is a Waltham-based multinational company working in the aerospace and defense industries. Raytheon uses robotics technology to make systems that inform soldiers where the enemy is hiding. Its hypersonic solutions, unmanned vehicles, anti-drone technology equipped with EMP (electromagnetic pulse) and bomb disposal systems have robotics in play. The defense company is also using robots to automate its missile production lines.
The company has a market cap of over $118 billion and posted more than $56 billion in profits in December 2020. Last month, the company secured a $518 million contract with the US Air Force for a new medium air missile system. The contract also involves foreign military sales and is expected to be completed by 2023. As US President Biden pursues a plan to tax American companies that have businesses overseas, Raytheon earlier this month said the plan could cost the firm $1 billion and would also affect research and development projects.
At the end of Q4 2020, 59 hedge funds out of 887 in the Insider Monkey database held stakes in Raytheon Technologies Corporation, up from 55 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $2.7 billion, down from 2.9 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Washington-based investment management firm Fisher Asset Management held the most shares – 5,915,155 – worth $422 million. Soroban Capital Partners was 2nd with 5,676,970 shares worth more than $405 million.
4. Teradyne, Inc. (NASDAQ: TER)
Teradyne, Inc. (NASDAQ: TER) is a Boston-based automatic equipment designer and manufacturer. Well-known technology firms like Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments, and IBM use the services of Teradyne. The firm markets several robotics products, including semiconductor testing, including UltraFLEX, a system designed for testing high-performance chip-based electronic devices. The firm also makes collaborative robots and in-circuit testing devices for large companies.
The firm has a market cap of over $22 billion and posted more than $3 billion in revenue in December 2020. Last month, as US President Biden readied a plan to increase spending on American manufacturing, the Bank of America singled out stocks that it projected would increase in value as a result of the plan. Teradyne was among these picks. The bank said the firm was likely to benefit from increased spending by companies around the world on manufacturing semiconductor chips and electronic devices.
At the end of Q4 2020, 47 hedge funds out of 887 in the Insider Monkey database held stakes in Teradyne Inc, up from 22 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $1.4 billion, up from 1.3 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment management firm Citadel Investment Group held the most shares – 128,425,000 – worth $486 million. Citadel Investment Group was 2nd with 128,425,000 shares worth more than $396 million.
3. Stryker Corporation (NYSE: SYK)
Stryker Corporation (NYSE: SYK) is a Michigan-based medical technologies company. The robotics section of the company develops different types of robots for use in health-related matters, including robotic surgery. The Mako smart robotic line of the company offers arm-assisted surgeries, knee medicals, and total hip processing. The smart robots also offer data analytics and a dedicated team from the firm works with the professionals to verify and review the data for better insights.
The company has a market cap of over $95 billion and posted more than $14.3 billion in revenue in December 2020. Global investment bank Citi earlier this month unveiled positive insights into the healthcare equipment market, citing increased surgeries amid the rollout of COVID-19 vaccinations as one possible reason the market would grow in the coming months. Stryker was given a Buy rating and picked as the highest conviction stock for Q2 2021.
At the end of quarter Q4 2020, 44 hedge funds out of 887 in the Insider Monkey database held stakes in Stryker Corporation, down from 48 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $3.2 billion, up from 1.7 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, London-based investment management firm Fundsmith held the most shares – 6,634,893 – worth $1.6 billion. Fisher Asset Management was 2nd with 2,574,059 shares worth more than $630million.
2. AeroVironment, Inc. (NASDAQ: AVAV)
AeroVironment, Inc. (NASDAQ: AVAV) is a California-based defense contractor. The company is primarily involved in the business of making unmanned aerial vehicles but also does other defense-related projects for the US forces. The products marketed by the company include battlefield, tactical, intelligence, surveillance, and reconnaissance drones. The firm says that it has so far delivered more than 35,000 products to 50 allied nations across the world. The firm is placed 2nd on our list of top 10 best robotics stocks for 2021.
The firm has a market cap of more than $2.7 billion and posted more than $367 million in revenue in April 2020. Last month, the company bagged a $21 million contract for radio frequency modifications for the US Army. Earlier this month, the company announced that it had won a $11 million contract from a NATO agency for the development and delivery of three tactical unmanned air systems. The orders are part of a three-year base contract the firm won from the NATO agency in January 2020.
At the end of quarter Q4 2020, 16 hedge funds out of 887 in the Insider Monkey database held stakes in AeroVironment Inc, the same as in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $77 million, up from 49 million in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, New York-based investment management firm ARK Investment Management held the most shares – 406,726 – worth $35 million. Fisher Asset Management was 2nd with 205,988 shares worth more than $17 million.
1. Brooks Automation, Inc. (NASDAQ: BRKS)
Brooks Automation, Inc. (NASDAQ: BRKS) is a Chelmsford-based company that manufactures automation equipment for many industries, including semiconductor manufacturing and life sciences. The automation equipment for the life sciences industry includes gas analysis and vacuum measurement, cryopumps, cryochillers and compressors, and asset tracking equipment. It also provides services for the clean energy, biobanking, and other related markets across the United States.
The firm has a market cap of over $7 billion and posted close to $900 million in revenue in December 2020. Earlier this month, stocks for semiconductor manufacturing companies rose on the back of positive earnings reports from large manufacturers and analyst predictions of strong growth for 2021 as the demand for electronic chips increases as companies develop from electronic devices following a lull in business in 2020 due to the pandemic. The firm is ranked first on our list of top 10 best robotics stocks for 2021.
At the end of Q4 2020, 25 hedge funds out of 887 in the Insider Monkey database held stakes in Brooks Automation, up from 17 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $170 million, up from 160 million in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Washington-based investment management firm Fisher Asset Management held the most shares – 1,020,799 – worth $69 million. Tower House Partners was 2nd with 758,339 shares worth more than $51 million.
You can also take a peek at 10 Best Biotech Stocks To Buy For 2021 and Top 10 Best Freelancing Platforms and Websites for 2021.
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Correction: Previous version of this article attributed the technologies of Utah-based Sarcos to Raytheon. The article was amended on April 14 at 11 AM ET to correct this mistake.
