The Industrial segment provides engineered fastening systems and products to customers in the automotive, manufacturing, electronics, construction, aerospace, oil and natural gas pipeline and other industries. It sells and rents custom pipe handling, joint welding and coating equipment for use in the construction of large and small diameter pipelines, as well as provides pipeline inspection services. It also sells hydraulic tools and performance-driven heavy equipment attachment tools and sells automatic doors to commercial customers.
Note that Stanley Black & Decker beat Wall Street’s third-quarter earnings forecast by 2.7%.
Shareholders receive a 4.26% dividend. Stanley Black & Decker stock has a $92 target price at Barclays. The consensus target of $83.57 is nearer to Thursday’s close at $78.64 a share.
Essex Property Trust
This stock has been hammered, but it is an outstanding way for investors looking to add an inflation-busting real estate position to growth and income portfolios. Essex Property Trust Inc. (NYSE: ESS) is a fully integrated REIT that acquires, develops, redevelops and manages apartment communities in selected West Coast markets.
Essex currently has ownership interests in 246 apartment communities, comprising approximately 60,000 apartment homes, with an additional six properties in various stages of active development. With mortgage rates going higher, many people have decided to remain in apartment communities, and this trend could remain for some time.
Investors receive a 4.11% dividend. The Truist Financial price objective is $247. The consensus target is $241.90. Essex Property Trust stock closed at $205.88, which was down over 4% on Thursday.
All seven of these top stocks have reasonable upside to the Wall Street targets, and the companies all pay very dependable dividends, given their Dividend Aristocrat status. With even moderate appreciation in their share prices, investors should be looking at double-digit total return potential. In a market that remains quite long in the tooth despite the horrific results for 2022, and with the economy sputtering, these dependable companies make a ton of sense for nervous investors now.
Note that three of the top-yielding Dividend Aristocrats (3M, Franklin Resources and T. Rowe Price), while solid companies, lack a Buy rating on Wall Street. These stocks could be considered, but if analysts do not like them, there is no reason investors should.
Originally published at 24/7 Wall St.
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