5 Best Industrial Dividend Stocks To Buy Now

In this article, we discuss 5 best industrial dividend stocks to buy now. If you want to read our detailed analysis of the industrial sector and its performance this year, go directly to read 11 Best Industrial Dividend Stocks To Buy Now. 

5. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 54

3M Company (NYSE:MMM) is a multinational conglomerate that operates in various industries, offering a wide range of products across diverse sectors. The company currently pays a quarterly dividend of $1.50 per share and has a dividend yield of 5.82%, as of December 11. It has been growing its dividends consistently for 65 years.

As of the close of Q3 2023, 54 hedge funds in Insider Monkey’s database reported having stakes in 3M Company (NYSE:MMM), jumping from 49 in the preceding quarter. These stakes are worth over $818.6 million in total. Among these hedge funds, Citadel Investment Group was the company’s leading stakeholder in Q3.

4. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 60

Honeywell International Inc. (NASDAQ:HON) is a multinational conglomerate that operates across a wide range of industries, offering an extensive array of products and services. The company pays a quarterly dividend of $1.08 per share, having raised it by 5% in September this year. Through this increase, it took its dividend growth streak to 13 years, which makes HON one of the best dividend stocks on our list.

As of the end of Q3 2023, 60 hedge funds tracked by Insider Monkey owned stakes in Honeywell International Inc. (NASDAQ:HON), compared with 61 in the preceding quarter. The collective value of these stakes is over $2.27 billion.

3. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 60

Lockheed Martin Corporation (NYSE:LMT) is a global aerospace, defense, and technology company that operates in various segments within the defense and aerospace industries. The company has been growing its dividends for the past 21 years and it pays a quarterly dividend of $3.15 per share. The stock’s dividend yield on December 11 came in at 2.79%.

The number of hedge funds in Insider Monkey’s database owning stakes in Lockheed Martin Corporation (NYSE:LMT) grew to 60 in Q3 2023, from 52 in the preceding quarter. The total value of these stakes is more than $1.64 billion.

2. FedEx Corporation (NYSE:FDX)

Number of Hedge Fund Holders: 67

FedEx Corporation (NYSE:FDX) is a well-known worldwide company that specializes in logistics and delivery services, boasting an expansive network within the transportation and shipping sector. The company has a quarterly payout of $1.26 per share, offering a dividend yield of 1.86%, as of December 11. It is one of the best dividend stocks on our list due to its consistent dividend growth over the past three years.

FedEx Corporation (NYSE:FDX) was a part of 67 hedge fund portfolios at the end of Q3 2023, up from 62 a quarter earlier, according to Insider Monkey’s database. The stakes held by these hedge funds have a collective value of nearly $3 billion.

1. Union Pacific Corporation (NYSE:UNP)

Number of Hedge Fund Holders: 90

Union Pacific Corporation (NYSE:UNP) tops our list of the best dividend stocks on our list. The transportation company offers a quarterly dividend of $1.30 per share and has a dividend yield of 2.24%, as of December 11. It has been raising its dividends for 16 consecutive years.

The number of hedge funds having stakes in Union Pacific Corporation (NYSE:UNP) grew to 90 in Q3 2023, from 87 in the previous quarter. The consolidated value of these stakes is over $5.4 billion.

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