The economy’s reopening and rising investments are driving the industrial sector’s recovery. That is why we think it could now be wise to now scoop up the shares of quality industrial stocks Eaton (NYSE:ETN), Lincoln Electric (LECO), and Crane (CR). So, let’s examine these names.Industrial companies are the building blocks of a country’s infrastructure. The fate of several industries depends on the industrial machinery sector. And the huge anticipated spending on this sector—much of it derived from the recently passed U.S. infrastructure bill—should drive the sector’s growth. Investors’ interest in industrial stocks is evident in the Industrial Select Sector SPDR Fund’s (XLI) 13.8% year-to-date returns.
Technological innovations are also driving the industrial sector’s growth. According to a MarketWatch report, the global industrial machinery market size is expected to hit $835.34 billion by the end of 2027, growing at a 3.6% CAGR.
Therefore, we think it could be wise to bet now on established industrial stocks Eaton Corporation plc (ETN), Lincoln Electric Holdings, Inc. (NASDAQ:LECO), and Crane Co. (CR).