Siemens is a solid company. It is benefitting quite a bit recently due to some ramped up infrastructure spending (think Germany's large commitment to boosted spending not too long ago).
The only reason I probably wouldn't buy the company is simply due to the cyclicality of it. If we look back to pretty much every single recession/rate cycle, the company has gone through some substantial drawdowns, likely due to the higher rate environment scaling back spending. This is a company that relies heavily on business and government spending, which will no doubt scale back in weak economic environments.
If we look back to the previous 12-13 years for the company, it hadn't returned much more than its dividend. Too many ebbs and flows in this one for my liking. However, could be a solid short-term play if infrastructure spend ramps up here over the next few years. Not something I'd buy and hold though.