The company sells its products and services through direct sales, distributors, and company-owned parts and supplies stores.
Shareholders receive a 1.66% yield. The company is expected to boost the $0.92 per share dividend to $1.03. The $334 Deutsche Bank target price compares with a $264.07 consensus target on the shares and a recent share price of $219.30.
Northrop Grumman
This was ranked as one of the top five defense contractors by sales last year, and it is on the BofA Securities US 1 list of top stock picks. Northrop Grumman Corp. (NYSE: NOC) provides innovative systems, products and solutions in unmanned systems, cyber, C4ISR and logistics and modernization to government and commercial customers worldwide.
The Aerospace Systems segment designs, develops, integrates and produces manned aircraft, unmanned systems, spacecraft, high-energy laser systems, microelectronics and other systems and subsystems.
The Information Systems segment offers advanced solutions for the Department of Defense, national intelligence and federal civilian, state, international and commercial customers. It provides products and services primarily in the fields of command and control, communications, cyber, air and missile defense, intelligence processing, civil security, health information technology, and government support systems.
The Technical Services segment provides logistics, modernization and sustainment services, as well as other advanced technology and engineering services, including space, missile defense, nuclear security, training and simulation services.
Northrop Grumman currently comes with a 1.39% dividend. The $1.57 per share dividend is expected to increase to $1.70. BofA Securities has set its price objective at $550. The consensus price target is much lower at $477.27. The shares traded at $458.60 early Monday.
Packaging Corp. of America
This company should continue to do well, especially if the economy does not totally bog down. Packaging Corporation of America (NYSE: PKG) manufactures and sells containerboard and corrugated packaging products in the United States.
The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods, multicolor boxes and displays that help to merchandise the packaged product in retail locations and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages and other industrial and consumer products. This segment sells its corrugated products through a direct sales and marketing organization, independent brokers and distribution partners.
The Paper segment manufactures and sells commodity and specialty papers, as well as communication papers, including cut-size office papers and printing and converting papers. This segment sells white papers through its sales and marketing organization.
The dividend yield currently is 2.57%. The company is expected to lift that in a big way, to $1.20 from $1.00. The Truist Financial target price is $182. The consensus target is $168.50. Shares were trading at $154.75.
These five top blue chip companies are expected to lift the dividends they pay to shareholders, and their stocks are rated Buy across Wall Street. Not only is increasing dividends and returning capital to investors important, but it shows that the company is doing well and has the earnings and cash flow strength to increase the payouts.
Originally posted at 24/7 Wall St.
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