Automation is the future, time to buy Rockwell stock, Barron’s says

Tech stocks are all the rage-and that makes industrial stock Rockwell Automation a stock to buy now, Al Root writes in this week’s edition of Barron’s. The company is a leader in the automation and digital transformation of manufacturing processes. Companies making everything from cars to cookies use Rockwell hardware and software to make their plants function. Rockwell’s stock has had a great start to 2023-it has gained about 25% through Wednesday’s close-and there are probably more gains ahead. By providing the technology necessary to automate manufacturing, Rockwell is growing faster than it has in the past, and that growth should continue as supply chains continue to ease, industrial activity begins to recover, and the U.S. brings manufacturing back home. What’s more, the stock should earn a higher valuation as investors begin to consider it for what it really is-a tech company, the author adds.