Stanley Black & Decker, Inc. (NYSE: SWK) is named among the 11 Best Income Stocks to Buy According to Hedge Funds. The company is known for its industrial tools, home hardware, and security products. It has completed a significant cost-reduction effort, improving gross margins and operating leverage.

Despite its Tools & Outdoor division being the main revenue driver, Stanley Black & Decker’s Engineered Fastening segment plays a crucial role in aerospace, automotive, and industrial sectors. The company has a strong dividend history, recently declaring a 1.2% increase to $0.83 per share, marking its 59th consecutive year of dividend hikes.

While SWK presents investment potential, other AI stocks may offer greater upside with less downside risk. Investors seeking an undervalued AI stock benefiting from current trends can explore further. Stanley Black & Decker’s stock is down from its 2021 peak but offers a dividend yield of 4.91% as of July 31.

Read more at Yahoo Finance: Is Stanley Black & Decker (SWK) One of the Best Income Stocks for Conservative Investors?