11 Innovative Dividend Stocks to Buy Now

6. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 75

Honeywell International Inc. (NASDAQ:HON), headquartered in North Carolina, serves clients across various industries. One of its key innovations is the thermostatic expansion valve (TXV), a crucial part used in air conditioning and refrigeration systems. This component regulates the flow of refrigerant to ensure proper temperature and pressure levels, ultimately improving the efficiency of cooling systems.

In the second quarter of 2025, Honeywell International Inc. (NASDAQ:HON) reported revenue of $10.35 billion, which showed an 8.09% growth from the same period last year. Building Automation led the performance, with three of the company’s four segments achieving sales growth of over 5% during the quarter. This reflected the effectiveness of the Accelerator operating system in responding to shifting business conditions and driving growth. The quarter also benefited from the company’s heightened emphasis on new product innovation, which contributed to the continued expansion of its record-high backlog.

Honeywell International Inc. (NASDAQ:HON) is a strong dividend payer, having raised its payouts for 14 years in a row. The company pays a quarterly dividend of $1.13 per share and has a dividend yield of 2.01%, as of July 28.