The books have closed on fourth quarter and year-end earnings for many corporations. As the dust settles, it's time to review performance and determine if the prior investment thesis is holding up.
For three large-cap, industrial equities, the road ahead looks straight and clear: Caterpillar (CAT), Honeywell (HON) and Illinois Tool Works (ITW).
The macro thesis around these three companies is simple. Based upon the business cycle, as the economy moves from recession to early-phase recovery, one of the historically best-performing sectors are the Industrials.
Prospectively, this has certainly been the case. These three stocks have shown magnificent gains over the past year. Caterpillar has booked a 93% gain, Honeywell has enjoyed a 51% uplift, and the “laggard” Illinois Tool Works has registered a 27% share price improvement. The benchmark SPDR S&P500 ETF (SPY) has logged 24% over the same period.
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