For those who aren’t already in the know, “Dividend Kings” are publicly traded dividend stocks with a track record of increasing shareholder payouts for 50 or more consecutive years. These reliable investments have overcome market difficulties for decades. A few examples:
❖ Periods of inflation
❖ Fluctuating commodity prices
❖ Market downturns
❖ Shifts in consumer sentiment
❖ Progress in modern technology
These “kings” of income have excelled during challenging markets with growing dividends, and their potential for substantial returns is undeniable. Top analysts tell us to buy and hold…
Parker-Hannifin Corp (PH)
Established in 1917, Parker-Hannifin (PH) is a global industrial giant specializing in motion control systems, serving many major industries worldwide with diverse revenue streams and an extensive product portfolio. PH excels in tailored solutions, fostering lasting customer relationships while benefiting from high switching costs, usually due to patented, mission-critical components. PH’s business operations align with its growth, a history of successful acquisitions, and robust metrics. PH, one of the fastest-growing dividend kings, shows a steady earnings stream in a competitive market.
PH is currently up year-to-date by 34.44% but is still trading near the middle of its existing range, which leaves it some upside. PH has a PEG ratio of 1.66x, positive TTM (trailing twelve-month) growth in assets and momentum, and a positive ROE (return on equity) of 21.73%. For Q2 2023, PH reported EPS of $6.08 per share vs. $5.49 per share as predicted by analysts, a 10.77% win, while it surprised analysts by 1.73% on revenue. PH also reported year-over-year revenue growth (+21.68%), net income (+450.30%), EPS (+449.49%), and net profit margin (+351.62%). PH is scheduled to report Q3 earnings on November 2nd and is projected to report $4.8 billion in sales at $5.18 per share, with a 3-5 year EPS growth rate of 17.6%.
As it carries a free cash flow of $7.46 billion, PH has a 1.51% dividend yield, with a quarterly payout of $1.48 ($5.92/year) per share; its last dividend increase was by +11% in April. With a 10-day average volume of roughly 645 thousand shares, PH has a median price target of $460, with a high of $534 and a low of $300; this suggests the potential for a nearly 37% increase from where its price is now.
Illinois Tool Works Inc (ITW)
Illinois Tool Works (ITW) is a global industrial and consumer equipment manufacturer known for its diversified product range serving various markets. ITW’s acquisitions and decentralized structure allow subsidiaries to retain their culture and operations while benefiting from collective resources. Unlike some conglomerates, ITW maintains profitability and diversified offerings, supported by excellent margins and consistently growing profits. With a solid financial standing and firmly holding an A+ credit rating, ITW has a remarkable dividend history dating back to 1964; it is expected to sustain a high-single-digit growth rate,
aligning with a focus on mission-critical products in niche markets. This places ITW among the well-managed industrial firms, showcasing its potential for predictable dividend growth.
ITW is currently up year-to-date by 5.49%, trading close to its 52-week middle. With a positive 20/200 day SMA (simple moving average), ITW has an ROE of 95.87% and a TTM momentum growth measure of 23.83%. For Q2 2023 earnings, although missing slightly on EPS, ITW surpassed analysts sales projections and reported year-over-year growth in crucial areas such as revenue (+1.57%), net income (+2.17%), EPS (+4.64%), and net profit margin (+0.60%). For Q3, ITW is expected to post $4.1 billion in sales at $2.45 per share, with a 3-5 year EPS growth rate of 6.9%. ITW has a 2.41% annual dividend yield, with a quarterly payout of $1.40 ($5.60/year) per share and a 51.78% payout ratio; it last increased its dividend in August by 7%. With a 10-day average volume of roughly 950 thousand shares, ITW has a median price target of $250, with a high of $265 and a low of $188, representing the potential for a 14% price jump.
PPG Industries Inc (PPG)
PPG Industries (PPG) stands as a global paint and coatings leader and caters widely to construction, industrial, automotive, marine, packaging, and aerospace markets. PPG’s specialty coatings, acting as heavy-duty paints, not only enhance aesthetics but also significantly extend product lifespans, especially for critical applications. PPG’s focus on high-value specialty products grants them pricing power and market leadership, with a variable cost structure and robust aftermarket sales ensuring strong cash flow and over a century of uninterrupted dividend payouts. Looking forward, PPG is strategically positioned for sustained dividend growth in a continuously expanding market.
PPG is up year-to-date slightly by 1.81% (appropriately trading right in the middle of its existing range) and has a PEG ratio of 1.51x, with an operating free cash flow of $1.72 billion. For its Q2 2023 earnings call, PPG posted an EPS of $2.25 per share vs. $2.14 per share, as expected by analysts, a 4.91% win, also surprising revenue estimates by 0.76%. PPG also showed year-over-year revenue growth (+3.86%), net income (+11.11%), EPS (+11.35%), and net profit margin (+7.02%). Scheduled to report Q3 earnings on October 19th, PPG is projected to report $4.6 billion at $1.88 per share. PPG has a 2.03% annual dividend yield, with a quarterly payout of 65 cents ($2.60/year) per share, and its last increase was by 5% in July. With a 10-day average volume of 1.33 million shares, PPG has a median price target of $160, with a high of $180 and a low of $143; this represents the potential for an almost 41% leap from its current price.
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