Dividend-Boosting Stocks: Parker-Hannifin

Engineering subsystem producer Parker-Hannifin(PH) has made a big business out of the little things. The company focuses on engineering value-added motion systems for vehicles and machines. While that business certainly isn't the flashiest, it's proved to be extremely profitable -- at least enough to justify a 4% dividend increase, pushing quarterly payouts to 26 cents per share. That gives Parker-Hannifin a current dividend yield of 1.48%.

By focusing on the little things for its clients, Parker has all but ensured that management would have a tight handle on its little things as well. As a result, the company sports always-increasing efficiency -- and respectable margins. With a highly diversified client base and strong margin growth, expect Parker's value to continuously improve.

That's the investment synopsis they're seeing for Parker Hannifin at the Columbia Mid-Cap Value Fund (NAMAX), which holds Morningstar's three-star rating and owns stakes in Discover Financial Services(DFS) and Royal Caribbean(RCL).

For the rest of this week's dividend stocks, check out the Dividend Stocks portfolio on Stockpickr.

And if you haven't already done so, join Stockpickr today to create your own dividend portfolio.

-- Written by Jonas Elmerraji in Baltimore.

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