Are These The Best Dow 30 Stocks To Invest In Right Now?
Dow 30 stocks are the thirty stocks that make up the Dow Jones Industrial Average (DJIA), which is one of the oldest and most well-known stock market indices in the world. The DJIA is a price-weighted index, which means that it is based on the prices of the Dow 30 stocks, rather than their market capitalization. The Dow 30 stocks are typically large, publicly traded companies that are leaders in their respective industries.
Although the composition of the Dow 30 has changed over time, it currently includes companies such as Apple Inc. (NASDAQ: AAPL), Boeing (NYSE: BA), Chevron (NYSE: CVX), Visa (NYSE: V), and Amgen Inc. (NASDAQ: AMGN) among others. These companies are widely viewed as safe and stable investments, and they often have high dividend yields. As a result, the Dow 30 is often used as a benchmark for other stock indices and investment portfolios. With that being said, here are three top Dow 30 stocks to check out in the stock market today.
Dow 30 Stocks To Watch In The Stock Market Today
- Salesforce Inc. (NYSE: CRM)
- Honeywell International Inc. (NYSE: HON)
- American Express Company (NYSE: AXP)
Salesforce (CRM Stock)
Starting off the list today, Salesforce Inc. is a cloud-based software company that specializes in customer relationship management (CRM). In recent years, Salesforce has expanded beyond CRM, offering a range of enterprise software solutions. This week, CRM stock is in the headlines today, after the company reported better-than-expected second-quarter 2023 financial results. Though, the company revised its full-year outlook.
In detail, Salesforce reported 2nd quarter 2022 earnings per share of $1.19, along with revenue of $7.7 billion. This is in comparison, to the analysts’ consensus estimates of earnings per share of $1.02 and revenue estimates of 7.7 billion. Additionally, CRM posted a 21.8% increase in revenue during the same period, a year prior. Moreover, the company announced it estimates full-year 2023 non-GAAP earnings per share between the range of $4.71 to $4.73 per share. While they estimate revenue in the range of $30.90 billion to $31.0 billion for the full-year fiscal 2023. For context, previously the company reported guidance estimates of earnings of $4.74 to $4.76 per share, with revenue of $31.70 billion to $31.80 billion.
The company’s Chair and Co-CEO Marc Benioff commented in his letter to shareholders, “We had another strong quarter, with revenue of $7.7B growing 22% year-over-year and 26% in constant currency, showing yet again the durability of our business model. And, we’re thrilled to initiate our first-ever share repurchase program to continue to deliver incredible value to our shareholders on our path to $50 billion in revenue in FY26.” Following this news, shares of CRM stock dropped over 6% on Thursday late morning at $168.64 per share. Could this present an opportunity to buy CRM stock at discounted price levels?
Honeywell International (HON Stock)
Next, Honeywell International (HON) is a diversified technology and manufacturing company that delivers products, services, and solutions to customers worldwide. The company operates in three segments: aerospace, automation, control solutions, performance, materials, and technologies. Just last month, HON announced its Board of Directors has declared a regular quarterly dividend payment of $0.98 per share.
Also, in July, the company reported a beat for its Q2 2022 financial results. In detail, Honeywell International posted second-quarter earnings of $2.10 per share. In addition, the company reported revenue of $9.0 billion for the quarter. Wall Street consensus estimates were earnings per share of $2.03, and revenue of $8.7 billion. What’s more, the company was able to deploy $2.3 billion in the capital, which includes $1.4 billion to share buybacks.
Moreover, Darius Adamczyk, chairman, and CEO of HON commented, “While we recognize macro crosscurrents are clouding the global economic growth outlook, we remain confident in our demand outlook for the back half of the year with orders up 12% year over year and closing backlog2 of $29.5 billion, up 12% year over year, led by our long-cycle businesses, which will help drive growth for quarters to come. We once again demonstrated our operational agility by staying ahead of the inflation curve, enabling us to expand margins and beat the high end of our adjusted EPS guidance.” In the last month of trading, shares of HON stock have rebounded by over 9%. HON stock currently trades at $198.45 per share as of Wednesday’s lunchtime session. Given this, will you be paying closer attention to HON stock in the stock market today?
American Express (AXP Stock)
Following that, we have American Express Company (AXP). In brief, American Express provides its customers with access to insights, experiences, and products that build a business. Aside from that, the company also provides credit and charge cards to consumers and corporations worldwide. Investors should also consider that the company recently reported stronger-than-expected second-quarter 2022 financial results.
Diving in, AXP posted earnings per share of $2.57 for Q2, while notching in revenue of $13.4 billion. For context, analysts’ consensus estimates for this quarter were earnings per share of $2.37, with revenue of $12.4 billion. As a result, American Express reported a 30.8% increase in revenue during the same time period, in 2021. Furthermore, the company also provided guidance for its full-year 2022 financial results. Specifically, AXP said they continue to estimate 2022 earnings of $9.25 to $9.65 per share. Though, the company did announce they estimate revenue of $53.71 billion to $54.58 billion, versus their previous revenue estimates of $50.0 billion to $50.9 billion for the full-year fiscal 2022.
Stephen J. Squeri, Chairman and Chief Executive Officer commented, “Card Member spending was up 30 percent from a year earlier on an FX-adjusted basis, driven by the robust rebound in global Travel and Entertainment spending, which surpassed pre-pandemic levels for the first time in April and was led by strong growth in consumer and SME spending and a significant uptick in corporate travel.” In the last month of trading, shares of AXP have recovered over 4%. As of Wednesday afternoon, shares of AXP stock are currently trading at $160.62 a share. All in all, is AXP stock a good Dow 30 stock to invest in right now?