Author: Tom Taulli, Investor Place

So far, the situation seems manageable. However, if things get worse, these stocks should withstand the damage easier (one of which yields over 6% and is attractively valued right now).

There are reasons to be bullish.

It seems like the company has created a perpetual growth machine.

In short, the company — which has raised its dividend for 56 consecutive years and now yields 3.6% — is undergoing a major transformation.

Even with the run-up in its shares, its valuation is still relatively attractive. In addition, the company has a solid record of beating earnings estimates.