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3 Industrial Stocks For Your November 2021 Watchlist

3 Top Industrial Stocks To Keep An Eye On Right Now

As the broader stock market soars toward newer heights this week, industrial stocks continue to gain momentum. For the most part, this would be thanks to the generally positive sentiment regarding the ongoing economic recovery. After all, industrial stocks are considered a key part of the cyclical stock group now. Because of this, an uptick in the economy would result in rising demands for their services and wares. For the uninitiated, industrial stocks belong to companies that produce materials used for manufacturing and construction alongside related services, in general. Given October’s consumer confidence index rebound, we could be looking at exciting times ahead for the sector now.

For instance, we could look at semiconductor giant, Intel (NASDAQ: INTC) now. Sure, some would consider the company’s latest update on its chip production operations less-than-ideal. As a result, the company’s are currently down by over 2% year-to-date. However, given the overwhelming need for Intel’s chip offerings across numerous global industries, investors could see an opportunity in INTC stock now. Just this week, Intel insiders including CEO Pat Gelsinger reportedly purchased $2.5 million in INTC stock. Even with the momentary setbacks, Intel has and continues to serve crucial industries across the board.

At the same time, there are also companies such as Caterpillar (NYSE: CAT) in the construction industry. This would be the case with the ongoing $1 trillion infrastructure bill being debated amongst House representatives. Should the bill be passed, CAT stock would be in focus as nationwide construction and maintenance efforts ramp up. By and large, with the current uptrend in the economy, industrial stocks could make viable plays. With that said, here are three to note in the stock market today.

Top Industrial Stocks To Buy [Or Sell] This Week

United Parcel Service

For starters, we will be taking a look at United Parcel Service (UPS). In brief, it is a Georgia-based multinational shipping & receiving and supply chain management firm. For a sense of scale, UPS’ logistics solutions are currently available in over 220 countries and territories worldwide. As one of the world’s largest companies and the leading name in the shipping courier industry, UPS stock could be an industrial name to consider. In fact, the company’s shares surged by over 6% during intraday trading yesterday thanks to its latest quarterly report.

Diving right into it, the company posted an earnings per share of $2.71 on revenue of $23.2 billion. Notably, UPS beat consensus estimates of $2.54 and $22.6 billion respectively. Overall, the company appears to be gaining momentum heading into the holiday season, its busiest time of the year. The company cited strong e-commerce demand as a core growth driver for the quarter. Anticipating higher volumes during the year-end season, the company’s shipping prices have also increased accordingly. Thanks to all of this, UPS is raising its operating margin target to 13% for 2021.

Moreover, UPS’s latest acquisition of same-day delivery service provider, Roadie, paints a clearer picture regarding its plans for the quarter. Namely, the company appears to be more than prepping for busy times ahead as businesses of all sizes turn to its services. All things considered, would UPS stock be a top pick for you in the stock market now?

industrial stocks (UPS stock)Source: TD Ameritrade TOS

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3M

Following that is 3M. In essence, the multinational conglomerate manufactures and markets a massive array of safety and industrial products. The likes of which range from materials and adhesives with diverse use cases. Among 3M’s core end markets are the worker safety, health care, and consumer goods sectors. Given the broad applications of 3M’s wares, MMM stock could arguably be a go-to for investors considering more defensive stocks.

Well, for one thing, the company continues to perform on the financial front now. Evidently, 3M posted solid figures in its third quarter earnings report yesterday before the opening bell. In it, the firm saw quarterly earnings per share of $2.45, beating Wall Street’s estimates by 25 cents. Additionally, 3M also posted a total revenue of $8.9 billion, topping projections of $8.7 billion.

In short, CEO Mike Roman had this to say, “Overall, end-market demand remained strong, and we navigated supply chain disruptions by maintaining a relentless focus on serving and innovating for our customers.” Regarding 3M’s long-term plans, Roman noted that it will continue to invest in its “strong demand areas” according to global trends. With the stock trading sideways for most of the year, would this be an opportune time to add MMM stock to your portfolio now?

NYSE MMMSource: TD Ameritrade TOS

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General Electric

Last but not least, we have General Electric or GE for short. Similar to our previous entry, GE is a multinational conglomerate company. Accordingly, its operations span a vast number of industries. This includes but is not limited to aviation, health care, renewable energy, and power markets. To put things into perspective, GE’s core divisions across these sectors each raked in a total revenue of over $15 billion in 2020. GE stock has risen by more than 80% over the past year.

If anything, GE does not seem to be slowing down in the slightest. This is apparent given the company’s stellar earnings report yesterday. In detail, GE smashed analyst earnings projections with an earnings per share of $0.57. For comparison, Wall Street expected earnings of $0.14 per share for the quarter. CEO Lawrence Culp Jr. said, “The GE team delivered another strong quarter. Orders grew, margins expanded, our overall cash performance was significantly better, and Aviation is building momentum and showing continued signs of recovery.

Not to mention, Culp Jr. also noted that the GE team is “managing through a challenging operating environment”, citing global supply chain disruptions. Despite all of this, the company is raising its 2021 earnings per share outlook. Moving forward, GE aims to maintain its leading positions across its core end markets. Given the overall momentum in GE’s operations, would you consider investing in GE stock this week?

NYSE GESource: TD Ameritrade TOS

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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