This article presents an overview of 5 Stocks with Latest Dividend Increases. For a detailed overview of such stocks read our article, 10 Stocks with Latest Dividend Increases.
5. WW Grainger Inc (NYSE:GWW)
Number of Hedge Fund Investors: 35
WW Grainger Inc (NYSE:GWW) is a dividend king, with over 50 years of consistent dividend increases. Recently, WW Grainger Inc (NYSE:GWW) announced another dividend hike, marking the 53rd year of consecutive dividend hikes. The maker of industrial tools and equipment hiked its dividend by 10% to $2.05 per share.
Of the 933 hedge funds in Insider Monkey’s database, 35 hedge funds had stakes in WW Grainger Inc (NYSE:GWW).
ClearBridge Aggressive Growth Strategy stated the following regarding W.W. Grainger, Inc. (NYSE:GWW) in its fourth quarter 2023 investor letter:
“We purchased W.W. Grainger, Inc. (NYSE:GWW), the largest industrial MRO (“maintenance, repair, and operations”) distributor in North America. Like Cintas, Grainger is a share gainer in a large and fragmented market, with less than 10% share of the addressable market for their direct, “high touch solutions” business estimated at more than $165 billion. The company has also barely scratched the surface with its online “endless assortment” platform, Zoro.com, which targets an even larger market. In addition to its growth and profit potential, we are attracted to Grainger’s strong balance sheet and improved capital allocation under its current management.”
4. Ameriprise Financial Inc. (NYSE:AMP)
Number of Hedge Fund Investors: 37
Minneapolis, Minnesota-based financial services company Ameriprise Financial Inc. (NYSE:AMP) is one of the companies that just announced dividend increases. On April 22, Ameriprise Financial Inc. (NYSE:AMP) increased its dividend by 9.6%. Ameriprise Financial Inc. (NYSE:AMP) has now increased its dividends consistently for the last 19 years.
3. Otis Worldwide Corp (NYSE:OTIS)
Number of Hedge Fund Investors: 38
Escalators and elevator company Otis Worldwide Corp (NYSE:OTIS) on April 23 increased its quarterly dividend by 14.7%.
As of the end of the fourth quarter of 2023, 38 hedge funds reported owning stakes in Otis Worldwide Corp (NYSE:OTIS). The biggest stake in Otis Worldwide Corp (NYSE:OTIS) belongs to Terry Smith’s Fundsmith LLP which owns a $576 million stake in Otis Worldwide Corp (NYSE:OTIS).
2. Metlife Inc (NYSE:MET)
Number of Hedge Fund Investors: 43
Insurance company Metlife Inc (NYSE:MET) is one of the stocks with latest dividend increases. On April 23, MetLife increased its quarterly dividend by 4.8%. The stock’s dividend yield stands at about 3%.
Of the 933 hedge funds tracked by Insider Monkey, 43 hedge funds reported owning stakes in Metlife Inc (NYSE:MET). The biggest stakeholder of Metlife Inc (NYSE:MET) during this period was Richard S. Pzena’s Pzena Investment Management which had a $669 million stake in Metlife Inc (NYSE:MET).
1. Parker-Hannifin Corp (NYSE:PH)
Number of Hedge Fund Investors: 63
Motion and control technologies company Parker-Hannifin Corp (NYSE:PH) is one of the stocks that saw dividend hikes recently. The Cleveland, Ohio-based company increased its dividend by 10% to $1.63 per share. This marked the 68th consecutive year of dividend increases for Parker-Hannifin Corp (NYSE:PH).
As of the end of the fourth quarter of 2023, 63 hedge funds tracked by Insider Monkey reported owning stakes in Parker-Hannifin Corp (NYSE:PH).
Carillon Chartwell Mid Cap Value Fund stated the following regarding Parker-Hannifin Corporation (NYSE:PH) in its fourth quarter 2023 investor letter:
“Parker-Hannifin Corporation (NYSE:PH) manufactures components and systems for various industrial activities. We sold this stock after strong performance and multiple expansion, and the timing of the sale resulted in a negative contribution for the quarter.”
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