The stock market serves as a central hub where investors can buy, sell, and trade shares of publicly traded companies. It is a key component of the global economy, reflecting the financial health and trends of industries and entire countries. Among the types of stocks traded, blue chip stocks are particularly noteworthy. These stocks represent large, reputable companies known for their quality, reliability, and ability to operate profitably in good and bad times.
Investing in blue chip stocks offers several advantages. These companies usually have a long history of stable earnings, strong reputations, and consistent dividend payments, making them attractive to conservative investors. Because they are well-established, blue chip stocks tend to be less volatile during market downturns, providing a safer investment option during economic uncertainty. Many also have a global presence, offering diversified operations that can tap into growth opportunities worldwide.
However, there are also disadvantages to consider. Blue chip stocks often come with high share prices, which can be a barrier for some individual investors. Additionally, because these companies are large and established, their growth potential might not be as high as smaller, emerging companies. This could limit the returns for investors looking for rapid growth rather than stability. Moreover, here are three blue chip stocks to watch in the stock market today.
Blue Chip Stocks To Watch Right Now
- Johnson & Johnson Inc. (NYSE: JNJ)
- RTX Corporation (NYSE: RTX)
- The Procter & Gamble Company (NYSE: PG)
Johnson & Johnson (JNJ Stock)
Leading off, Johnson & Johnson Inc. (JNJ) is known for manufacturing a wide range of healthcare products, including pharmaceuticals, medical devices, and consumer health products. Additionally, its operations are divided into several business segments, which aim to address the needs of healthcare professionals and patients.
Earlier this month, Johnson & Johnson announced its plans to acquire Shockwave Medical, Inc. for approximately $13.1 billion. This move will enhance Johnson & Johnson’s MedTech division, particularly in cardiovascular intervention. Priced at $335.00 per share in cash, this acquisition aims to strengthen Johnson & Johnson’s standing in high-growth areas of the medical technology market.
So far year-to-date, shares of JNJ stock are down 6.76%. However, during Monday morning’s trading action, JNJ stock opened higher up 1.10% on the day so far, trading at $149.18 a share.
[Read More] 2 Bank Stocks To Watch In April 2024
RTX Corp. (RTX Stock)
Next, RTX Corporation (RTX), formed from the merger of Raytheon Company and the United Technologies Corporation aerospace businesses, is a major player in the aerospace and defense industry. RTX provides advanced systems and services for commercial, military, and government customers worldwide. Its broad range of products includes aircraft engines, avionics, aerostructures, cybersecurity, missiles, air defense systems, and drones.
At the beginning of this month, RTX Corporation announced when it will report its first quarter 2024 financial and operating results. In detail, the company will report its Q1 2024 financial results on Tuesday, April 23, 2024, before the opening of the U.S. stock market. To briefly recap, last quarter the company reported earnings of $1.29 per share, with revenue of $19.93 billion.
Since the start of the year, shares of RTX stock are up 19.13% YTD. Meanwhile, during Monday morning’s trading session, RTX Corporation stock is trading green up 1.38% on the day so far, trading at $101.48 a share.
[Read More] 3 Dow Jones Stocks For Your April 2024 Watch List
Procter & Gamble Company (PG Stock)
Finally, The Procter & Gamble Company (PG) is one of the leading manufacturers of consumer goods globally. The company offers a wide array of products across multiple segments including beauty, grooming, health care, fabric & home care, and baby, feminine & family care.
This month, Procter & Gamble Company announced an increase in its quarterly dividend to $1.0065 per share for both Common Stock and Series A and B ESOP Convertible Class A Preferred Stock. This new dividend, which is a 7% increase from the previous amount, will be payable starting May 15, 2024, to shareholders recorded as of April 19, 2024. This increase marks the 68th consecutive year that P&G has raised its dividend and the 134th consecutive year of dividend payments since the company’s incorporation in 1890
Year-to-date, shares of PG stock are up by 4.76% so far. While, on Monday morning, shares of Procter & Gamble Co. stock are trading slightly higher by 0.33% at $155.80 a share.
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!
