Like Parker-Hannifin, Ingersoll-Rand (IR) is a industrial-sector conglomerate socking away the cash. Also like Parker-Hannifin, the dividend needs to rise to get back to average levels. The current yield is 1.3% but the five-year average stands at 1.7%.
And, make no mistake, IR is good for its payouts. It has paid dividends without a break since 1910. The company also is returning cash to shareholders through a $2 billion share repurchase program.