With the S 500 index recently passing an all-time high, investors are entitled to feel happy about investing in equities. Still, those who are interested in outperforming the index will look for stocks with growth prospects over the broader economy. That's where stocks like industrial software company PTC (NASDAQ: PTC), positioning and workflow technology company Trimble (NASDAQ: TRMB), and aerospace supplier Carpenter Technology (NYSE: CRS) come in.

PTC's closed-loop system (a collection of software solutions) offers its industrial customers a way to design, develop, manufacture, service, and ultimately dispose of a product in a process that involves constantly feeding data back into the loop to improve the process. This is all possible using digital web-enabled technology (such as digital twins and the Internet of Things) to gather and analyze data.

Design engineers using PTC's computer-aided design (CAD) software may be asked to modify a product's design based on indications from PTC's product lifecycle management (PLM) software, suggesting that it could be manufactured more effectively. The same argument applies to servicing a product using PTC's service lifecycle management (SLM) software.

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Source Fool.com