Are these US industrial stocks worth watching this year?

January 10, 2023 10:53 PM AEDT | By Mridul Gogoi

Are these US industrial stocks worth watching this year? — Image source: © Maximusnd | Megapixl.com

Honeywell International Inc. (NASDAQ:HON)

Honeywell International is a US multinational conglomerate based in Charlotte, North Carolina. It does business in four segments -aerospace, performance materials and technologies, building technologies, and safety and productivity solution. With a dividend yield of 1.959 per cent Honeywell pays a quarterly dividend of US$ 1.03.

The company reported sales of US$ 8,951 million in the third quarter of fiscal 2022 compared to US$ 8,473 million in the same quarter in 2021.

Cash flow from operations of Honeywell in Q3 2022 was US$ 2,083 million versus US$ 1,119 million in the year-ago quarter.

The company's earnings per share in the reported quarter were US$ 2.28 against US$ 1.8 in the corresponding quarter in 2021.

The company said it deployed US$ 1.2 billion of Capital in the third quarter of 2022 to buy back shares and pay out dividends and capital expenditures.

Caterpillar Inc. (NYSE:CAT)

Caterpillar Inc. is part of the US Fortune 500 companies. The largest construction-equipment manufacturer in the world paid a quarterly dividend of US$ 1.2.

The company posted revenue of US$ 690 million in the third quarter of 2022 compared to US$ 634 million in the year-ago quarter. Caterpillar’s profit (pre-income tax) was US$ 188 million in Q3 2022, up 44 per cent year-over-year (YoY).

The Q3 2022 profit of the company was US$ 131 million compared to US$ 101 million in the same quarter in 2021. The company attributed this increase in revenue to a favorable US$ 63 million impact from elevated average financing rates.

Caterpillar Inc. Q3 profit and revenue (2022 v 2021) Source: ©Kalkine Media®; © Canva via Canva.com

Bottom line:

As investors, always do your analysis before making any decision. You can diversify your portfolio and adopt a long-term strategy to tide over the market volatility phase.

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