14 Best Dividend Stocks to Buy for Steady Growth

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6. Parker-Hannifin Corporation (NYSE:PH)

5-Year Average Dividend Growth Rate: 15.06%

On May 11, Evercore ISI lowered its price recommendation on Parker-Hannifin Corporation (NYSE:PH) to $1,064 from $1,168. It reiterated an Outperform rating on the shares.

During the fiscal Q3 2026 earnings call, Chairwoman and CEO Jennifer Parmentier described the quarter as a period of record performance, which she linked to the strength of the company’s portfolio. She highlighted record third-quarter sales of $5.5 billion, along with 6.5% organic growth and a 26.7% adjusted segment operating margin. She also said adjusted earnings per share rose 18%, while year-to-date cash flow from operations reached $2.6 billion.

Parmentier added that orders increased 9% during the quarter and noted that the company’s backlog reached a record $12.5 billion. She also said integration planning for Filtration Group had already started using the company’s established process. She further stated that the company held the leading position in the $145 billion motion and control industry, which she described as a growing market where Parker-Hannifin continued gaining share. According to Parmentier, nearly two-thirds of revenue came from customers buying four or more technologies.

Parker-Hannifin Corporation (NYSE:PH) specializes in motion and control technologies. The company designs, manufactures, and provides aftermarket support for highly engineered solutions. Its business segments include Diversified Industrial and Aerospace Systems.

While we acknowledge the potential of PH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PH and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Dividend Stocks to Buy for Steady Growth.

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