As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at internet of things stocks, starting with Rockwell Automation (NYSE: ROK).

Industrial Internet of Things (IoT) companies are buoyed by the secular trend of a more connected world. They often specialize in nascent areas such as hardware and services for factory automation, fleet tracking, or smart home technologies. Those who play their cards right can generate recurring subscription revenues by providing cloud-based software services, boosting their margins. On the other hand, if the technologies these companies have invested in don’t pan out, they may have to make costly pivots.

The 6 internet of things stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.4% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Best Q3: Rockwell Automation (NYSE: ROK)

One of the first companies to address industrial automation, Rockwell Automation (NYSE: ROK) sells products that help customers extract more efficiency from their machinery.

Rockwell Automation reported revenues of $2.32 billion, up 13.8% year on year. This print exceeded analysts’ expectations by 4.9%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ adjusted operating income estimates.

Rockwell Automation achieved the biggest analyst estimates beat and fastest revenue growth of the whole group. Unsurprisingly, the stock is up 8% since reporting and currently trades at $391.80.

Is now the time to buy Rockwell Automation? Access our full analysis of the earnings results here, it’s free for active Edge members.

AMETEK (NYSE: AME)

Started from its humble beginnings in motor repair, AMETEK (NYSE: AME) manufactures electronic devices used in industries like aerospace, power, and healthcare.

AMETEK reported revenues of $1.89 billion, up 10.8% year on year, outperforming analysts’ expectations by 4.3%. The business had an exceptional quarter with a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ organic revenue estimates.

The market seems happy with the results as the stock is up 7.5% since reporting. It currently trades at $198.01.

Is now the time to buy AMETEK? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Emerson Electric (NYSE: EMR)

Founded in 1890, Emerson Electric (NYSE: EMR) is a multinational technology and engineering company providing solutions in the industrial, commercial, and residential markets.

Emerson Electric reported revenues of $4.86 billion, up 5.1% year on year, falling short of analysts’ expectations by 0.9%. It was a slower quarter as it posted EPS guidance for next quarter missing analysts’ expectations significantly and revenue guidance for next quarter missing analysts’ expectations.

Emerson Electric delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 5.7% since the results and currently trades at $129.99.

Read our full analysis of Emerson Electric’s results here.

Trimble (NASDAQ: TRMB)

Playing a role in the construction of the Paris Grand, Trimble (NASDAQ: TRMB) offers geospatial devices and technology to the agriculture, construction, transportation, and logistics industries.

Trimble reported revenues of $901.2 million, up 2.9% year on year. This print topped analysts’ expectations by 3.5%. It was an exceptional quarter as it also recorded a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.

Trimble had the weakest full-year guidance update among its peers. The stock is up 1.4% since reporting and currently trades at $79.70.

Read our full, actionable report on Trimble here, it’s free for active Edge members.

SmartRent (NYSE: SMRT)

Founded by an employee at a real estate rental company, SmartRent (NYSE: SMRT) provides smart home devices and software for multifamily residential properties, single-family rental homes, and student housing communities.

SmartRent reported revenues of $36.2 million, down 10.6% year on year. This number surpassed analysts’ expectations by 1.8%. Overall, it was a strong quarter as it also put up an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

SmartRent had the slowest revenue growth among its peers. The stock is up 5.5% since reporting and currently trades at $1.44.

Read our full, actionable report on SmartRent here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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