10 Best Industrial Automation Stocks to Buy for the Next Decade

6. Rockwell Automation, Inc. (NYSE:ROK)

Number of Hedge Fund Holders: 46

Rockwell Automation, Inc. (NYSE:ROK) is one of the Best Industrial Automation Stocks to Buy for the Next Decade. Bank of America has upgraded Rockwell Automation (NYSE: ROK) to Buy from Neutral, raising its price target to $410, up from $360. The firm cited improved end-market conditions and a more constructive long-term outlook for industrial automation demand.

In its latest research note, BofA highlighted Rockwell’s strong positioning in high-growth verticals, including discrete manufacturing, energy transition technologies, and digital infrastructure. The firm believes recent softness in orders is nearing an inflection point, with backlogs stabilizing and customer budgets expected to recover in the coming quarters.

Analysts pointed to Rockwell’s continued execution on software and services expansion, particularly through its FactoryTalk and Emulate3D platforms. These digital solutions are playing a key role in enabling predictive maintenance, operational efficiency, and real-time process visibility. The upgrade comes amid growing global investment in factory modernization and automation to counter labor shortages and improve productivity. With a broad product portfolio and strong partner ecosystem, Rockwell Automation, Inc. (NYSE:ROK) is viewed as a key beneficiary of these secular shifts.

Rockwell delivers industrial automation through control systems, software, and sensors that modernize manufacturing, logistics, and energy operations globally.