5 Best Diversified Dividend Stocks to Buy Now

1. Danaher Corporation (NYSE:DHR)

Number of Hedge Fund Holders: 88

Danaher Corporation (NYSE:DHR) tops our list of the best dividend stocks to buy now. The company manufactures products related to the medical, commercial, and industrial sectors. The company offers a quarterly dividend of $0.27 per share, having raised it by 8% on February 22. This was the company’s ninth consecutive year of dividend growth. The company’s shares have a yield of 0.44%, as of March 28.

Danaher Corporation (NYSE:DHR) was a part of 88 hedge fund portfolios in Q4 2022, as per Insider Monkey’s database. The stakes owned by these funds have a total value of over $5.4 billion.

Stewart Asset Management mentioned Danaher Corporation (NYSE:DHR) in its Q3 2022 investor letter. Here is what the firm has to say:

“We also need to point out one global consequence of the rapid rise in interest rates: an irrepressibly strong dollar. This hurts the reported earnings of U.S. companies who sell their goods and services overseas. Foreign currency earnings translate into fewer dollars and thus lower earnings. Most of the companies in your portfolios gain a notable amount of earnings from their international operations. While the strength or weakness of a currency doesn’t change the quality of a business or its longer-term earnings power, it can change the reported earnings of a company over short periods of time. It is difficult to forecast this effect accurately because many of our companies manufacture where they sell, which to some extent dulls the sharp negative effect of a surging dollar. Danaher (NYSE:DHR), among others, is a good example.”

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