It has been a tough month for stocks, and due to disappointing earnings and questions about 2019 estimates, industrials have been among the hardest hit groups as they fell 15% from their October peak.

However, there are some potential catalysts for the group as we head toward year’s end. Catalysts include the Fed potentially backtracking on 2019 rate hikes and progress on trade disputes with China.

A good way to play this situation is to buy 3M (MMM), a solid company with a return on equity approaching 20%, and stable businesses that should hold up relatively well if we do have an economic slowdown. Even if 2019 earnings per share (EPS) estimates still come down 5% from their current $10.80 a share, MMM is a good buy at less than 18X earnings and a dividend yield just under 3%. Buy MMM under $190, my target is $210.