A great place to look for opportunities is the coveted list of Dividend Aristocrats, which are S&P 500 components that have paid and raised their dividends for at least 25 consecutive years. A multi-decade track record of dividend raises usually coincides with a strong balance sheet and earnings growth -- which are two core ingredients for an effective, long-term investment. Target (NYSE: TGT), 3M (NYSE: MMM), and A.O. Smith (NYSE: AOS) are down big off their highs.