Caterpillar IncRising industrial production and manufacturing PMI indicate stronger demand for Caterpillar's heavy equipment.
U.S. industrial production rose 0.1% in May after a 0.9% gain in April, with the index reaching 102.6. Manufacturing output, a component of the broader industrial production index, came in at 97.9, while durable goods production climbed 0.8% sequentially. The ISM Manufacturing PMI hit 54, its highest in four years, marking a fifth straight month above 50. Zacks Investment Research highlights four industrial stocks with strong earnings growth estimates: Caterpillar, Helios Technologies, Dover Corporation, and Luxfer Holdings.
Caterpillar IncRising industrial production and manufacturing PMI indicate stronger demand for Caterpillar's heavy equipment.
Dover CorporationHigher industrial output and durable goods production suggest increased demand for Dover's industrial products.
Helios Technologies IncImproving manufacturing activity supports demand for Helios Technologies' hydraulic and electronic components.
Luxfer Holdings PLCStronger industrial production benefits Luxfer's specialty materials used in manufacturing.