In this article, we discuss 5 dividend achievers to buy in 2022. If you want to see more stocks in this selection, click 10 Dividend Achievers to Buy in 2022.
5. Honeywell International Inc. (NASDAQ:HON)
Dividend Yield as of May 10: 2.01%
Number of Hedge Fund Holders: 51
Number of Years of Consecutive Dividend Increases: 12
Honeywell International Inc. (NASDAQ:HON) is an American diversified technology and manufacturing company, operating via four main divisions – aerospace, building technologies, performance materials and technologies, and safety and productivity solutions.
On April 25, Honeywell International Inc. (NASDAQ:HON) declared a $0.98 per share quarterly dividend, in line with previous. The dividend is payable on June 3, to shareholders of record on May 13. Honeywell International Inc. (NASDAQ:HON)’s dividend yield as of May 10 stood at 2.01%, and the company has raised its dividend payouts for 12 years back to back.
Honeywell International Inc. (NASDAQ:HON) reported earnings for Q1 on April 29, posting an EPS of $1.91, beating consensus estimates by $0.05. The $8.38 billion revenue outperformed analysts’ predictions by $86.41 million.
Citi analyst Andrew Kaplowitz on May 2 reiterated a Buy rating on Honeywell International Inc. (NASDAQ:HON) and raised the firm’s price target on the stock to $232 from $229. The analyst believes that Honeywell International Inc. (NASDAQ:HON)’s Q1 results reflect its ability to “effectively execute” despite ongoing supply chain tightness and inflationary challenges.
According to the fourth quarter database of Insider Monkey, 51 hedge funds were long Honeywell International Inc. (NASDAQ:HON), compared to 45 funds in the last quarter. D E Shaw is the leading shareholder of the company, with a position worth $342.4 million.
Here is what ClearBridge Investments has to say about Honeywell International Inc. (NASDAQ:HON) in its Q1 2021 investor letter:
“The portfolio’s quality bias and valuation discipline have generated compelling returns over time with typically strong relative results in more challenging environments as it did through the first three quarters of 2020. However, that same quality bias tends to create a more challenging relative performance environment for the Strategy during periods of sharp economic acceleration, which tend to benefit stocks that are more commodity linked or of lower quality. This has been the case during the vaccine- and stimulus-driven rally experienced late last year and during the most recent quarter. Sectors that lagged in the quarter included industrials, Honeywell also lagged in the quarter after previously generating strong returns over extended periods.”
4. The Hershey Company (NYSE:HSY)
Dividend Yield as of May 10: 1.61%
Number of Hedge Fund Holders: 37
Number of Years of Consecutive Dividend Increases: 13
The Hershey Company (NYSE:HSY) is a Pennsylvania-based company that offers chocolate and non-chocolate confectionery snacks under the Hershey’s, Reese’s, Almond Joy, Cadbury, Kit Kat, Rolo, and Twizzlers brands, among others. The Hershey Company (NYSE:HSY) has a dividend history consisting of 13 years of consecutive dividend growth.
The Hershey Company (NYSE:HSY) reported its financial results for Q1 2022 on April 28, posting earnings per share of $2.53, exceeding estimates by $0.43. The revenue grew 16.13% year-over-year to $2.67 billion, outperforming consensus forecasts by $179.75 million.
On April 28, The Hershey Company (NYSE:HSY) declared a quarterly dividend of $0.901 per share. The dividend is distributable on June 15, to shareholders of the company as of May 20. The Hershey Company (NYSE:HSY)’s dividend yield on May 10 stood at 1.61%.
RBC Capital analyst Nik Modi on April 29 maintained an Outperform rating on The Hershey Company (NYSE:HSY) and raised the firm’s price target on the stock to $237 from $214. The company announced “impressive” Q1 results and increased guidance despite a worse inflation outlook, the analyst told investors. He added that if elasticities hold up well through the year, he sees upside for The Hershey Company (NYSE:HSY) shares.
According to the Q4 database of Insider Monkey, 37 hedge funds were bullish on The Hershey Company (NYSE:HSY), up from 33 funds in the preceding quarter. Jim Simons’ Renaissance Technologies is the leading shareholder of the company, with a position worth $616 million.
3. Kellogg Company (NYSE:K)
Dividend Yield as of May 10: 3.18%
Number of Hedge Fund Holders: 31
Number of Years of Consecutive Dividend Increases: 18
Kellogg Company (NYSE:K) is an American company that manufactures and markets snacks and convenience foods across North America, Europe, Latin America, Asia, the Middle East, and Africa. Kellogg Company (NYSE:K)’s dividend yield on May 10 stood at 3.18%, and the company has an 18-year history of consistent dividend growth.
On April 29, Kellogg Company (NYSE:K) declared a quarterly dividend of $0.58 per share, in line with previous. The dividend is payable on June 15, to shareholders of record on June 1. Kellogg Company (NYSE:K) disclosed its intention to raise the quarterly dividend to $0.59 per share in the third quarter of 2022.
Kellogg Company (NYSE:K) reported earnings for Q1 2022 on May 5, posting an EPS of $1.10, beating estimates by $0.17. The $3.67 billion revenue also exceeded market consensus by $86.35 million. Citi analyst Wendy Nicholson on May 6 raised the price target on Kellogg Company (NYSE:K) to $83 from $74 and kept a Buy rating on the shares after the better than expected Q1 results.
Among the hedge funds tracked by Insider Monkey, Kellogg Company (NYSE:K) was found in the public stock portfolios of 31 funds at the end of December 2021, up from 22 funds in the earlier quarter. Ray Dalio’s Bridgewater Associates is a significant position holder in the company, with 576,264 shares worth more than $37 million.
2. Cummins Inc. (NYSE:CMI)
Dividend Yield as of May 10: 2.94%
Number of Hedge Fund Holders: 40
Number of Years of Consecutive Dividend Increases: 17
Cummins Inc. (NYSE:CMI) manufactures and sells diesel and natural gas engines, electric and hybrid powertrains, and relevant components worldwide. Cummins Inc. (NYSE:CMI)’s dividend yield on May 10 came in at 2.94% and the company has consistently increased dividends for 17 years.
On May 3, Cummins Inc. (NYSE:CMI) reported earnings for Q1, posting an EPS of $4.04, beating estimates by $0.49. The $6.39 billion revenue outperformed market consensus by $310.88 million.
Cummins Inc. (NYSE:CMI) declared on May 10 a $1.45 per share quarterly dividend, in line with previous. The dividend is payable on June 2, to shareholders of record on May 20.
Credit Suisse analyst Jamie Cook on May 4 maintained an Outperform rating on Cummins Inc. (NYSE:CMI) but lowered the firm’s price target on the shares to $270 from $304 on revised estimates. The analyst noted that Cummins Inc. (NYSE:CMI) closed 4% higher after beating Q1 EPS by 11% on better revenues and profits.
According to Insider Monkey’s Q4 data, 40 hedge funds were bullish on Cummins Inc. (NYSE:CMI), up from 30 funds in the last quarter. The total stakes held in the fourth quarter of 2021 amounted to $961 million, compared to $830 million in Q3. Jean-Marie Eveillard’s First Eagle Investment Management is the leading shareholder of Cummins Inc. (NYSE:CMI), with 1.90 million shares worth $416.5 million.
1. Evergy, Inc. (NYSE:EVRG)
Dividend Yield as of May 10: 3.45%
Number of Hedge Fund Holders: 25
Number of Years of Consecutive Dividend Increases: 19
Evergy, Inc. (NYSE:EVRG) is an American company that distributes electricity in Kansas and Missouri, via coal, hydroelectric, landfill gas, uranium, natural gas, oil, solar, wind, and other renewable sources. Evergy, Inc. (NYSE:EVRG)’s dividend yield on May 10 stood at 3.45%. The company has increased its dividend payouts consistently for 19 years.
On May 5, Evergy, Inc. (NYSE:EVRG) declared a $0.5725 per share quarterly dividend, in line with previous. The dividend is payable on May 20, to shareholders of the company as of May 20.
Credit Suisse analyst Nicholas Campanella on April 25 initiated coverage of Evergy, Inc. (NYSE:EVRG) with an Outperform rating and a $76 price target. The stock presently trades at a 7% discount to the large-cap average on below-consensus 2024 earnings estimates, but an in-line multiple is suitable since the management is “high quality with a clear track record for value creation in the utility sector,” the analyst told investors in a research note.
Among the hedge funds tracked by Insider Monkey, Evergy, Inc. (NYSE:EVRG) was found in the investment portfolios of 25 funds at the end of the fourth quarter of 2021, with collective stakes worth $800 million. Paul Singer’s Elliott Management held the biggest position in the company, with 9.4 million shares worth $646.20 million.
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