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The best machinery stocks depend on your portfolio and investment goals—while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.
11 popular machinery stocks to watch
We round up a selection of stocks in or related to the heavy equipment industry, weighting the list more heavily towards popular mid- and large-cap stocks.
- Caterpillar (CAT)
- Dover Corporation (DOV)
- Flowserve Corporation (FLS)
- Cummins (CMI)
- Illinois Tool Works (ITW)
- Ingersoll Rand (IR)
- Graco (GGG)
- Xylem (XYL)
- ITT (ITT)
- Deere-and-Company (DE)
- Kulicke and Soffa Industries (KLIC)
Compare investment accounts that help you research stocks
The machinery stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering machinery stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.
Our picks for platforms with research tools
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CA & US trading
- 6% cash rebate plus $2,200 in trading perks
- Low transaction fees
- Easy-to-use app
How to invest in machinery stocks
- Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps in Canada.
- Sign up for an account. Provide your personal information and sign up.
- Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
- Choose the stocks you want to buy. Search for the stock by name or ticker symbol like CAT or DOV.
- Place your order. Buy the stock. It's that simple.
Learn more about popular machinery stocks
We round up a selection of stocks in or related to the heavy equipment industry, weighting the list more heavily towards popular mid- and large-cap US stocks.1. Caterpillar (CAT)
Caterpillar Inc. manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. Its Construction Industries segment offers asphalt pavers, cold planers, compactors, forestry machines, material handlers, motor graders, pipelayers, road reclaimers, telehandlers, track-type tractors, and track and wheel excavators; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
- Previous close price: $298.12
- Market capitalization: $143,862,317,056
- 1 year performance: -19.86%
- P/E ratio: 13.6396
2. Dover Corporation (DOV)
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market. This segment offers software solutions and services used in light and heavy-duty vehicle lifts, wheel service equipment, vehicle diagnostics, and vehicle collision repair solutions; winches, hoists, bearings, drives, and electric monitoring system; and radio frequency and microwave filters and switches, and signal intelligence solutions, as well as soldering and fluid dispensing solutions.
- Previous close price: $163.66
- Market capitalization: $22,733,150,208
- 1 year performance: -5.55%
- P/E ratio: 16.4495
3. Flowserve Corporation (FLS)
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The company offers custom engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems, replacement parts, and related aftermarket services; and manufactures gas-lubricated mechanical seal for gas pipelines and in the oil and gas production and process markets.
- Previous close price: $42.50
- Market capitalization: $5,570,178,560
- 1 year performance: -9.75%
- P/E ratio: 19.757
4. Cummins (CMI)
Cummins Inc. offers various power solutions worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera.
- Previous close price: $288.57
- Market capitalization: $39,377,973,248
- 1 year performance: -4.72%
- P/E ratio: 10.0804
5. Illinois Tool Works (ITW)
Illinois Tool Works Inc. manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.
- Previous close price: $233.55
- Market capitalization: $68,154,793,984
- 1 year performance: -9.36%
- P/E ratio: 19.8395
6. Ingersoll Rand (IR)
Ingersoll Rand Inc. provides various mission-critical air, fluid, energy, and medical technologies services and solutions worldwide. It operates in two segments, Industrial Technologies and Services, and Precision and Science Technologies.
- Previous close price: $73.37
- Market capitalization: $29,574,201,344
- 1 year performance: -21.25%
- P/E ratio: 35.4444
7. Graco (GGG)
Graco Inc. designs, manufactures, and markets systems and equipment used to move, measure, mix, control, dispense, and spray fluid and powder materials in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The Contractor segment provides sprayers to apply paint to walls and other structures; two-component proportioning systems to spray polyurethane foam and polyurea coatings; viscous coatings to roofs, markings on roads, parking lots, athletic fields, and floors; and high-performance volumetric and gravimetric dispense, mixing, and shaking equipment.
- Previous close price: $79.76
- Market capitalization: $13,402,120,192
- 1 year performance: -12.62%
- P/E ratio: 28.266
8. Xylem (XYL)
Xylem Inc. , together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions for utility, industrial, and residential and commercial building services settings worldwide. It operates through four segments: Water Infrastructure; Applied Water; Measurement and Control Solutions; and Water Solutions and Services.
- Previous close price: $109.70
- Market capitalization: $26,539,640,832
- 1 year performance: -14.82%
- P/E ratio: 29.8795
9. ITT (ITT)
ITT Inc. , together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in North America, Europe, Asia, the Middle East, Africa, and South America. The Motion Technologies segment manufactures brake pads, shock absorbers, energy absorption components, and damping technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.
- Previous close price: $127.07
- Market capitalization: $10,165,595,136
- 1 year performance: -2.91%
- P/E ratio: 19.9286
10. Deere-and-Company (DE)
Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, soil preparation, tillage, seeding, and crop care equipment, as well as application equipment, including sprayers and nutrient management, soil preparation machinery for grain growers, and related attachments and service parts.
- Previous close price: $467.67
- Market capitalization: $124,614,320,128
- 1 year performance: 13.28%
- P/E ratio: 20.3245
11. Kulicke and Soffa Industries (KLIC)
Kulicke and Soffa Industries, Inc. engages in the design, manufacture, and sale of capital equipment and tools used to assemble semiconductor devices. It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS).
- Previous close price: $30.10
- Market capitalization: $1,606,834,304
- 1 year performance: -38.22%
- P/E ratio: 273.6364
Buy machinery stocks from these online trading platforms
Compare special offers, low fees and a wide range of investment options among top trading platforms.Note: The dollar amounts in the table below are in Canadian dollars.
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Finder Score for stock trading platforms
To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.
Bottom line
While it's possible to turn a profit investing in machinery stocks, keep in mind that—like any investment—machinery stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the heavy equipment industry, so carefully vet your picks before you invest. If you're new to investing or if it's been a while since you've taken a critical look at your investment accounts, compare brokers to make sure you're getting the best trading features for your needs.
Related: How to buy stocks in Canada
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
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