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Recent Articles
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3M Looks to a Brighter Future, Shares Rally 20%+
Jul 28, 2024
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Image Source: 3M’s second quarter results were better than feared.
3M’s stock rallied more than 20% following its second quarter earnings report, as the firm works to put settlements for faulty earplugs and PFAS pollution as well as its spin-off of Solventum behind it. With most of its troubles in the rear-view mirror, 3M can now focus more of its efforts on organic performance, which was solid in the second quarter, despite some portfolio/geographic shifts in its ‘Consumer’ division. 3M’s free cash flow conversion remains robust, and its net debt stood at a manageable ~$3 billion at the end of the quarter. Shares of 3M yield 2.2% at the time of this writing.
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Dividend Increases/Decreases for the Week of July 26
Jul 26, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Honeywell Adjusts Full Year 2024 Guidance on Margin Pressures
Jul 25, 2024
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Image: Honeywell’s shares have traded sideways for the past 12-18 months.
Honeywell is a fantastic company, and we continue to like shares in the Dividend Growth Newsletter portfolio. Second quarter results were better than expected, but the quarterly beat was overshadowed by lowered adjusted earnings per share and free cash flow guidance for 2024. Though the news wasn’t great, we’re not making any changes to our newsletter portfolios at this time. Shares of Honeywell yield 2% at the time of this writing.
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IBM’s Free Cash Flow Generation on the Up and Up
Jul 25, 2024
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Image: IBM’s shares have staged a nice recovery since the beginning of 2023.
Looking ahead to full-year 2024 expectations, IBM continues to expect constant currency revenue growth in the mid-single-digit range, while it now expects free cash flow to be in excess of $12 billion on the year. IBM ended its second quarter with $56.5 billion in total debt and $13.7 billion in cash and marketable securities. We like IBM’s improvement in free cash flow generation and exposure to AI, but we prefer other ideas in big cap tech, namely Alphabet and Microsoft. Shares yield 3.6%.
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