Wall Street's Most Accurate Analysts Give Their Take On 3 Industrials Stocks With Over 3% Dividend Yields
Portfolio Pulse from Avi Kapoor
Wall Street's most accurate analysts have provided their ratings on three industrial stocks with over 3% dividend yields: Paychex, Inc. (PAYX), Kennametal Inc. (KMT), and Robert Half Inc. (RHI). These stocks are attractive to investors seeking high dividend payouts during market turbulence.
June 13, 2024 | 12:21 pm
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POSITIVE IMPACT
Robert Half Inc. (RHI) has been upgraded from Sell to Hold by Truist Securities with a price target of $72, while BMO Capital maintained a Market Perform rating and cut the price target to $80. The company recently approved a quarterly cash dividend of 53 cents per share.
The upgrade from Sell to Hold and the strong dividend approval indicate a positive short-term outlook for RHI, despite the price target cut by BMO Capital.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Paychex, Inc. (PAYX) has received a Sector Perform rating from RBC Capital with a price target of $130 and a Neutral rating from Wedbush with a price target of $115. The company is set to release its fiscal 2024 Q4 results on June 26.
The mixed ratings from analysts and the upcoming financial results create a neutral short-term outlook for PAYX. Investors will be closely watching the Q4 results for further direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Kennametal Inc. (KMT) has received a Hold rating from Loop Capital with a price target of $24 and an Equal-Weight rating from Barclays with a price target of $25. The company recently posted weaker-than-expected quarterly earnings.
The weaker-than-expected earnings and the cautious ratings from analysts suggest a likely short-term decline in KMT's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100