10 Best Industrial Automation Stocks to Buy for the Next Decade

4. Parker-Hannifin Corporation Inc. (NYSE:PH)

Number of Hedge Fund Holders: 51

Parker-Hannifin Corporation Inc. (NYSE:PH) is one of the Best Industrial Automation Stocks to Buy for the Next Decade. Citi analyst Andrew Kaplowitz has lifted the firm’s price target on Parker-Hannifin Corporation (NYSE:PH) to $831 from $709, while reiterating a Buy rating on the stock. The adjustment comes as part of Citi’s broader outlook revision for the industrial conglomerate space ahead of second-quarter earnings.

Kaplowitz noted that demand trends across the sector have remained resilient despite macro uncertainty. Citi expects most companies in the group to deliver solid Q2 results and offer modest upgrades to their 2025 earnings forecasts. Parker-Hannifin stands out for its strong execution and exposure to long-cycle, high-margin businesses.

The firm pointed to Parker’s expanding footprint in automation, aerospace, and engineered materials as a driver of earnings consistency. Its recent acquisitions, particularly the integration of Meggitt, have strengthened the company’s presence in motion and control technologies used across industrial and defense markets.

Parker has also benefited from increased investment in smart manufacturing, where its hydraulic, pneumatic, and electromechanical systems play a central role in automating complex operations. Margin expansion, disciplined capital allocation, and healthy order backlogs were also cited as tailwinds heading into the second half of the year.

Parker-Hannifin supports industrial automation with motion control systems, sensors, and fluid technologies that drive efficiency in manufacturing and aerospace.