NEW YORK ( TheStreet) -- The following stocks go ex-dividend Wednesday, meaning an investor must purchase the shares Tuesday to qualify for the next dividend payment: Chevron ( CVX), Duke Energy ( DUK), Honeywell ( HON), Sherwin-Williams ( SHW), United Technologies ( UTX), Visa ( V) and Whirlpool ( WHR).
Chevron The energy company reported first-quarter earnings on April 27 of $6.5 billion, or $3.27 a share, up from year-earlier earnings of $6.2 billion, or $3.09. "Our $120 target price represents an 8.9x multiple to our 2012 EPS estimate, near the lower end of its historical 8-14x range," Societe Generale analysts wrote in a May 7 report. "We expect CVX's high oil exposure, diverse business model, strong balance sheet, and dividend yield to be sought as a safe haven amid the market volatility we anticipate in 2012. That said, the heavy investment phase for its large LNG projects puts it in deficit spending territory for 2012-13 and poses the risk of cost overruns. We respect management's conservative approach, but it will limit potential for positive surprises from dividends or buybacks. Risks to our TP: Volatile wellhead, crack spreads, and product pricing can materially affect profitability. With 73% non-US exposure, geopolitics can affect bottom line results, as can proposed domestic tax changes. CVX also has several chunky deep H2O projects, which pose cost overrun risks. About half of operations are PSC exposed." Forward Annual Dividend Yield: 3.5%
Honeywell The diversified technology and manufacturing company reported first-quarter earnings on April 20 of $823 million, or $1.04 a share, up from year-earlier earnings of $705 million, or 88 cents. "HON's 1Q was an across the board, 'no questions asked' beat and raise, increasingly differentiated in a slowing macro landscape," JPMorgan analysts wrote in an April 23 report. "The better-than-expected 2Q range continues to 'front end load' the deliverables here, with a full year range that sets the company up for further beats in a benign macro environment. When the numbers are this good, 'over-owned' is a weak Bear case (as it has been on DHR for years), and with a few more quarters like this and HON will have to be considered as the 'must own' premium diversified industrial. In short, after of decade of restructuring/heavy lifting, it increasingly looks like this is Honeywell's cycle." Forward Annual Dividend Yield: 2.6%
United Technologies The aerospace and industrial company reported on April 24 first-quarter earnings of $819 million, or $1.31 a share, down from year-earlier earnings of $1.7 billion, or $1.06. "We believe investors remain concerned about H2 growth at Otis, as the pickup in high-end residential construction has not begun and competitors had taken some share following the unsuccessful pricing actions in 2011," Wells Fargo analysts wrote in a report Friday. "In addition, we believe that Otis business in Spain could be an area to watch given the weaker environment in EuropeSpain is the company's fourth largest market in Europe. If both of these areas are weak through the end of 2012, we believe it could absorb much of the $50$75MM of yr/yr segment profit growth included in the guidance." Forward Annual Dividend Yield: 2.5%
Whirlpool The home appliances company reported first-quarter earnings on April 26 of $92 million, or $1.17 a share, down from year-earlier earnings of $169 million, or $2.17. "We rate WHR HOLD due to the removal of preliminary tariffs on refrigerators and the likely negative read-through to washers, despite clear dumping behavior by foreign competitors," KeyBanc Capital Markets wrote in a May 1 report. "WHR is trading at 9.6x current year estimates, in line with its historical 10-11x range. At 4.0x 2013 EV/Forward EBITDA, WHR is trading below its 5.0x average since 1999 and within an EV/EBITDA range of 3.3-6.7x over the same period. WHR is currently priced at 0.39x EV-to-forward sales, above its 12-month average of 0.35x and below its three-year average of 0.41x." Forward Annual Dividend Yield: 3.3%