5 hardware stocks to watch

The best hardware stocks depend on your portfolio and investment goals—while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

5 popular hardware stocks to watch

We round up a selection of stocks in or related to the tool industry, weighting the list more heavily towards popular mid- and large-cap stocks.

1. Home Depot (HD)
2. Lowes Companies (LOW)
3. Stanley Black-and-Decker (SWK)
4. Snap-On (SNA)
5. Fortive (FTV)

Compare investment accounts that help you research stocks

The hardware stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering hardware stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

Our picks for platforms with research tools

How to invest in hardware stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps in Canada.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like HD or LOW.
5. Place your order. Buy the stock. It's that simple.

Learn more about popular hardware stocks

We round up a selection of stocks in or related to the tool industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

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1. Home Depot (HD)

The Home Depot, Inc. operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products.

• Previous close price: $363.25
• Market capitalization: $369,053,925,376
• 1 year performance: 12.70%
• P/E ratio: 24.9614

Buy HD stock on Interactive Brokers

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2. Lowes Companies (LOW)

Lowe's Companies, Inc. , together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating.

• Previous close price: $237.16
• Market capitalization: $135,917,051,904
• 1 year performance: 3.17%
• P/E ratio: 19.0816

Buy LOW stock on Interactive Brokers

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3. Stanley Black-and-Decker (SWK)

Stanley Black & Decker, Inc. provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment offers professional grade corded and cordless electric power tools and equipment, including drills, impact wrenches and drivers, grinders, saws, routers, and sanders; pneumatic tools and fasteners, such as nail guns, nails, staplers and staples, and concrete and masonry anchors; corded and cordless electric power tools; hand-held vacuums, paint tools, and cleaning appliances; leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, and industrial and automotive tools; drill, screwdriver, router bits, abrasives, saw blades, and threading products; tool boxes, sawhorses, medical cabinets, and engineered storage solutions; and electric and gas-powered lawn and garden products.

• Previous close price: $87.75
• Market capitalization: $13,444,409,344
• 1 year performance: -9.73%

Buy SWK stock on Interactive Brokers

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4. Snap-On (SNA)

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments. The company provides hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other related products; power tools, such as cordless, pneumatic, and hydraulic and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

• Previous close price: $274.74
• Market capitalization: $14,262,463,488
• 1 year performance: 0.75%
• P/E ratio: 14.0467

Buy SNA stock on Interactive Brokers

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5. Fortive (FTV)

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

• Previous close price: $76.62
• Market capitalization: $27,630,755,840
• 1 year performance: 3.15%
• P/E ratio: 31.1468

Buy FTV stock on Interactive Brokers

Buy hardware stocks from these online trading platforms

Compare special offers, low fees and a wide range of investment options among top trading platforms.

Note: The dollar amounts in the table below are in Canadian dollars.

Bottom line

While it's possible to turn a profit investing in hardware stocks, keep in mind that—like any investment—hardware stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the tool industry, so carefully vet your picks before you invest. If you're new to investing or if it's been a while since you've taken a critical look at your investment accounts, compare brokers to make sure you're getting the best trading features for your needs.

Related: How to buy stocks in Canada

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.