5 Best Diversified Dividend Stocks to Buy Now

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In this article, we discuss 5 best diversified dividend stocks to buy now. If you want to read our detailed analysis of best dividend stocks and their returns over the years, go directly to read 10 Best Diversified Dividend Stocks to Buy Now

5. Emerson Electric Co. (NYSE:EMR)

Dividend Yield as of October 3: 2.81%

Emerson Electric Co. (NYSE:EMR) is a Missouri-based multinational company that manufactures products related to industrial, commercial, and consumer markets. In fiscal Q3 2022, the company reported an operating cash flow of $740 million, up from $442 million in the previous quarter. The company’s free cash flow came in at $630 million, compared with $333 million a quarter earlier. Its revenue of $5 billion showed a 7% year-over-year growth.

Emerson Electric Co. (NYSE:EMR) holds one of the longest dividend growth track records, having raised its dividends consistently for the past 65 years. It currently pays a quarterly dividend of $0.515 per share and has a dividend yield of 2.81%, as recorded on October 3.

In August, Argus lifted its price target on Emerson Electric Co. (NYSE:EMR) to $98 with a Buy rating on the shares, appreciating the company’s strong quarterly earnings and its balance sheet. Moreover, the firm also acknowledged the company’s one of the longest dividend growth streaks.

The number of hedge funds tracked by Insider Monkey owning stakes in Emerson Electric Co. (NYSE:EMR) grew to 47 in Q2 2022, from 45 a quarter earlier. These stakes hold a collective value of over $1.25 billion. Citadel Investment Group was the company’s leading stakeholder in Q2.

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