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With the ongoing market volatility, many investors are more focused on capital preservation than capital appreciation. Therefore, many times they flock to mega caps-- also known as blue chip stocks-- since they have proven themselves through many business cycles, and typically have a much more secure revenue base. However, the seven well-known companies below seem to be under-appreciated by investors, and now looks to be the right time to buy. Moreover, they have a diversified revenue base which provides relatively more stability and consistency compared to other companies.

Becton, Dickinson and Company (NYSE:BDX), a medical technology company, develops, manufactures, and sells medical devices, instrument systems, and reagents worldwide. This diversified medical company is trading at favorable valuations at just a trailing 13x P/E, 11x forward P/E, strong $1.2B in FCF this past year, 7x EV/EBITDA, fantastic ROA and ROE of 11% and 25% respectively, and consistently rising 2.4% dividend yield. With a very low payout ratio of 29% and management team dedicated to raising the dividend, BDX makes for a high quality dividend holding.

Emerson Electric (NYSE:EMR) operates as a diversified technology company worldwide. Along with having a fantastic 3% dividend yield, EMR trades at a reasonable 16x trailing P/E, 13x forward P/E, 1x PEG, 8x EV/EBITDA, strong FCF over $2.5B this past year, and ROA and ROE matching BDX at 11% and 25%. EMR makes for another high quality holding.

United Technologies (NYSE:UTX) provides technology products and services to the building systems and aerospace industries worldwide. The company has a trailing P/E under 15x, forward 13x P/E, 1.2x PEG and P/S, FCF in excess of $5B this past year, and a nice 2.5% dividend yield. UTX trades at a very low 34% payout ratio , so it's very likely to see continued future dividend increases and a nice buy here. As of last quarter UTX had a very strong 80.9% of all shares outstanding held by institutions.

Danaher (NYSE:DHR) designs, manufactures, and markets professional, medical, industrial, and commercial products and services. DHR is trading at a reasonable trailing 16x P/E, 14x forward P/E, .9x PEG, and just under $2B in FCF this past year. The company has a small dividend yield, but management has been raising that aggressively lately, and with its great, diversified revenue base, I’d expect that to continue. Moreover, as of last quarter, DHR had a strong 74.2% of all shares outstanding held by institutions.

Northrop Grumman (NYSE:NOC) provides products, services, and solutions in aerospace, electronics, information systems, and technical service sectors. NOC trades at a cheap 8x trailing and forward P/E, 1x PEG, .5x P/S and EV/S, and a very nice 3.5% secure dividend yield. This diversified, stable company is a buy at these levels, and as of last quarter it had a very strong 90.1% of all shares outstanding held by institutions.

General Electric Company (NYSE:GE) operates as a technology, service, and finance company worldwide. This is a company I recently wrote about here, and I still feel it has great value at a trailing 12x P/E, 10x forward P/E, .8x PEG, 1.1x P/S, very strong FCF of over $26B this past year, and very nice 3.7% dividend yield. Moreover, with a very low payout ratio below 50%, expect more dividend raises in the future. This is a buy, and as of last quarter, it had a strong 52.3% of all shares outstanding held by institutions.

E. I. du Pont de Nemours and Company (NYSE:DD) operates as a science and technology company worldwide. This Dow stock is trading at a historically cheap 13x trailing P/E, 11x forward P/E, 1.1x PEG, 1.1x P/S, over $3B in FCF this past year, and secure 3.5% dividend yield. I think that great dividend will provide price protection in this volatile market along with 64.2% of all shares outstanding held by institutions as of last quarter.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in NOC, GE, EMR, UTX over the next 72 hours.