These 3 Stocks Might Be Getting a Little Too Expensive
Given the decline in the market in 2022 and the fall in share prices of all three stocks discussed here, it might seem odd to single them out as being "too expensive." Add the fact that Rockwell Automation (NYSE: ROK), multi-industry industrial Illinois Tool Works (NYSE: ITW), and life sciences and diagnostics company Danaher (NYSE: DHR) are high-quality companies, and readers are entitled to be a little puzzled by the headline now.
Still, valuations matter, and so does the patience to wait for a good entry point into what should be a long-term growth story on these three stocks.
This automation company has a lot going for it. Automation is a long-term growth industry for a host of reasons. It helps companies reduce costs, and it also helps reduce supply chain complexity by allowing manufacturers to shift production away from low-labor-cost countries scattered around the world.
Source Fool.com
