In this article, we will be looking at the 5 best stocks to buy with 50+ years of dividend increases. If you want to see our detailed analysis of dividend investing, you can go directly to the 10 Best Stocks to Buy With 50+ Years of Dividend Increases.
5. Dover Corporation (NYSE:DOV)
Number of Hedge Fund Holders: 26
Number of Years of Consistent Dividend Growth: 65
Dividend Yield: 1.3%
Dover Corporation (NYSE: DOV) provides equipment and components, consumable suppliers, software and digital solutions, and other products and services across the globe. It ranks 5th on our list of the best stocks to buy with 50+ years of dividend increases.
This July Deutsche Bank raised its price target on Dover Corporation (NYSE: DOV) from $150 to $167, keeping a Hold rating on the shares. Analyst Nicole Deblase has commented that another earnings beat is expected from industrial names this quarter.
In the first quarter of 2021, Dover Corporation (NYSE: DOV) had an EPS of $1.81, beating estimates by $0.34. The company’s revenue was $1.87 billion, up 12.80% year over year and beating estimates by $135.10 million. Dover Corporation (NYSE: DOV) has also gained 21.64% in the past 6 months and 25.19% year to date.
By the end of the first quarter of 2021, 26 hedge funds out of the 866 tracked by Insider Monkey held stakes in Dover Corporation (NYSE: DOV) worth roughly $639 million. This is compared to 32 hedge funds in the previous quarter with a total stake value of about $738 million.
4. Stanley Black & Decker, Inc. (NYSE:SWK)
Number of Hedge Fund Holders: 33
Number of Years of Consistent Dividend Growth: 53
Dividend Yield: 1.3%
Stanley Black & Decker, Inc. (NYSE: SWK) operates in the tools and storage, industrial, and security businesses across the world and ranks 4th on our list of the best stocks to buy with 50+ years of dividend increases.
This June, Gabelli analyst Justin Bergner upgraded Stanley Black & Decker, Inc. (NYSE: SWK) from a Hold to Buy, in light of his own confidence in e-commerce driven growth that the company might go through, among other factors.
In the first quarter of 2021, Stanley Black & Decker, Inc. (NYSE: SWK) had an EPS of $3.13, beating estimates by $0.56. The company’s revenue was $4.20 billion, up 34.20% year over year and beating estimates by $226.54 million. Stanley Black & Decker, Inc. (NYSE: SWK) has also gained 19.57% in the past 6 months and 22.27% year to date.
By the end of the first quarter of 2021, 33 hedge funds out of the 866 tracked by Insider Monkey held stakes in Stanley Black & Decker, Inc. (NYSE: SWK) worth roughly $993 million. This is compared to 38 hedge funds in the previous quarter with a total stake value of about $846 million.
3. Emerson Electric Co. (NYSE:EMR)
Number of Hedge Fund Holders: 45
Number of Years of Consistent Dividend Growth: 64
Dividend Yield: 2.1%
Emerson Electric Co. (NYSE: EMR) is a US-based multinational corporation working to provide products and engineering services for industrial, commercial, and consumer markets. The company ranks 3rd on our list of the best stocks to buy with 50+ years of dividend increases.
This July, Deutsche Bank raised its price target on Emerson Electric Co. (NYSE: EMR) from $103 to $111. Barclays also raised its price target on the company’s shares this April to $84, with an Equal Weight rating on the stock.
In the fiscal second quarter of 2021, Emerson Electric Co. (NYSE: EMR) had an EPS of $0.97, beating estimates by $0.07. The company’s revenue was $4.43 billion, up 6.46% year over year and beating estimates by $74.53 million. Emerson Electric Co. (NYSE: EMR) has also gained 17.35% in the past 6 months and 25.37% year to date.
By the end of the first quarter of 2021, 45 hedge funds out of the 866 tracked by Insider Monkey held stakes in Emerson Electric Co. (NYSE: EMR) worth roughly $796 million. This is compared to 46 hedge funds in the previous quarter with a total stake value of about $1.04 billion.
2. Colgate-Palmolive Company (NYSE:CL)
Number of Hedge Fund Holders: 48
Number of Years of Consistent Dividend Growth: 58
Dividend Yield: 2.2%
Colgate-Palmolive Company (NYSE: CL) is a US-based multinational consumer products company with headquarters in Manhattan. The company provides household, healthcare, personal care, and other products under a variety of brands like Colgate and Head & Shoulders, and it ranks 2nd on our list of the best stocks to buy with 50+ years of dividend increases.
This June Credit Suisse upgraded Colgate-Palmolive Company (NYSE: CL) shares to Outperform, with a $95 price target. Earlier in May, Deutsche Bank had also raised its price target on the company’s shares to $85 as well.
In the first quarter of 2021, Colgate-Palmolive Company (NYSE: CL) had an EPS of $0.80, beating estimates by $0.01. The company’s revenue was $4.34 billion, up 6.03% year over year and it beat estimates by $80.51 million as well. Colgate-Palmolive Company (NYSE: CL) has gained 0.85% in the past 6 months.
By the end of the first quarter of 2021, 48 hedge funds out of the 866 tracked by Insider Monkey held stakes in Colgate-Palmolive Company (NYSE: CL) worth roughly $2.30 billion. This is compared to 46 hedge funds in the previous quarter with a total stake value of about $1.51 billion.
First Eagle Investment Management, mentioned Colgate-Palmolive Company (NYSE: CL) in its first-quarter 2021 investor letter. Here‘s what they said:
“The leading detractors in the quarter (included) Colgate-Palmolive Company. After a strong 2020 fueled in part by lockdown-driven demand, consumer staples stocks generally cooled during the first quarter as investors shifted attention to the more economically sensitive areas of the market likely to benefit from re-openings and improved discretionary spending. The effects of this rotation could be seen in the share price underperformance of names like Colgate-Palmolive.”
1. Lowe’s Companies, Inc. (NYSE:LOW)
Number of Hedge Fund Holders: 61
Number of Years of Consistent Dividend Growth: 59
Dividend Yield: 1.6%
Lowe’s Companies, Inc. (NYSE: LOW) is an American retailer providing home improvement products through its retail stores in the US and Canada. The company ranks 1st on our list of the best stock to buy with 50+ years of dividend increases.
This May, Morgan Stanley raised its price targets on Lowe’s Companies, Inc. (NYSE: LOW) shares to $230 with an Overweight rating. Analyst Simeon Gutman commented that the company is performing well above its strong market case, leading to him raising estimates in light of the company’s quarterly report as well.
In the fiscal first quarter of 2022, Lowe’s Companies, Inc. (NYSE: LOW) had an EPS of $3.21, beating estimates by $0.62. The company’s revenue was $24.42 billion, up 24.13% year over year and beating estimates by $667.62 million. Lowe’s Companies, Inc. (NYSE: LOW) has gained 14.02% in the past 6 months and 21.14% year to date.
By the end of the first quarter of 2021, 61 hedge funds out of the 866 tracked by Insider Monkey held stakes in Lowe’s Companies, Inc. (NYSE: LOW) worth roughly $5.17 billion. This is compared to 71 hedge funds in the previous quarter with a total stake value of about $5.19 billion.
Pershing Square, an investment management firm, mentioned Lowe’s Companies, Inc. (NYSE: LOW) in its fourth-quarter 2020 investor letter. Here‘s what the fund said:
“Lowe’s is a high-quality business with significant long-term earnings growth potential. We initiated our investment in the company in April 2018 largely because we believed that the hiring of a new high-caliber management team could dramatically improve the business and close the performance gap to its closest competitor, Home Depot. Marvin Ellison became CEO in July 2018, and immediately began working on a multi-year transformation plan to bolster Lowe’s retail fundamentals, reduce structural costs, expand distribution capabilities, and modernize systems and the company’s online capabilities.
In 2020, Lowe’s experienced unprecedented demand driven by consumers nesting at home, higher home asset utilization and a reallocation of discretionary spend. Lowe’s earlier decision to modernize the company’s online offering allowed it to meet consumers’ surging demand. Further, its commitment to improve the company’s retail fundamentals allowed Lowe’s to showcase its enhanced merchandising, greater in-stock-levels, and excellent customer service. In the fourth quarter, the company completed 95% of its store layout resets which include a more intuitive shopping experience complete with a more Pro-centric layout (by “Pro” we refer to the professional tradesmen that perform repair and maintenance, remodeling and construction services). The company is also rolling out a new Pro CRM tool, which should improve Lowe’s Pro market share…” (Click here to view the full text)
You can also take a peek at 10 Extreme Dividend Stocks with Huge Upside and 30 Dividend Kings of 2021 (Part I).
