(GE's dividend increase announcement added in this update)BOSTON ( TheStreet) -- Investors have been told to seek the safety of boring U.S. stocks with predictable businesses and attractive dividends to protect their money from Europe's debt meltdown and slowing U.S. economic growth. That strategy isn't bulletproof. DuPont ( DD), the U.S. chemical maker that's a member of the Dow Jones Industrial Average, saw its shares plummet as much as 7% today after the company cut its full-year profit forecast.
Siemens AG ( SI) Company Profile: Based in Germany, Siemens AG is a global conglomerate with operations in energy, healthcare, transportation and industrials. Key Statistics: 4.1% dividend yield, forward P/E of 8.6, one-year revenue growth of 6.6% Consider in Place of: General Electric ( GE), Emerson Electric ( EMR), Honeywell ( HON), United Technologies ( UTX) Curtis' Take: Curtis says that Siemens is a lot like GE but without the financial services, a unit that gave GE a major headache during the 2008 financial collapse. While the company is based in Germany, Siemens is truly a global business, he says. "It's listed in Europe, but 50% of its sales are derived from outside of Europe," Curtis says. "They're big in turbines, which is a growth area. It has a strong balance sheet, which is a comfort to me. It is a cyclical stock and a bellwether industrial company. It's dividend growth was very strong last year, so going forward it will be more regular growth." Curtis adds that the company pays a dividend annually and is set to go ex-dividend in January, which makes the stock an attractive opportunity now. Siemens AG's yield of 4.1% overshadows a 4% yield for GE. On Friday, GE announced an increase of dividend, which pushed the yield from 3.7% to 4%. Siemens AG's yield also beat the 2.6% yield for United Technologies and 2.8% for Honeywell, both large U.S. industrial giants. Curtis says his fund owns shares issued in Germany, but notes that U.S. investors are able to buy American Depositary Receipts.