2 Top Dividend Stocks in Industrial Machinery
Though it still faces its fair share of risk, the global economy is steadily firming up. Global gross domestic product is forecast by the World Bank to expand at a rate of nearly 3% in 2018 and 2019. This bodes well for the industrial machinery market, which provides equipment to industries such as agriculture, construction, technology, and materials handling. The industrial machinery market is expected to grow at a compounded annual growth rate of 6% between 2016 and 2024, according to Hexa Research.
As major industries go, this is a pretty fast expansion rate, and creates opportunities for companies which exhibit market dominance or credible industry niches. For dividend-oriented investors looking to participate in these opportunities, consider two top dividend stocks in industrial machinery: a global giant that needs little introduction, and a scrappy, dynamic equipment provider that dominates its niche.
Global farm and construction equipment titan Deere & Company (NYSE: DE) operates in three major segments: agriculture and turf, construction and forestry, and financial services. The company often combines its first two segments for analysis purposes into "global equipment operations" and refers to its third segment as "financial services operations."
Source: Fool.com