One happy consequence of a bear market is that dividend yields rise as stock prices fall. That can give investors some additional incentive to buy stocks with strong fundamentals -- and perhaps do so promptly. That's because if there's a recovery in the markets, then some of these impressive yields could shrink.

Three beaten-up stocks trading near their 52-week lows that could be especially attractive right now include Takeda Pharmaceuticals (TAK -0.23%), Duke Energy (DUK -0.61%), and Home Depot (HD -0.25%). While these stocks are down, it may only be a matter of time before they rally again.

1. Takeda Pharmaceuticals

Japanese drugmaker Takeda Pharmaceuticals is a leading healthcare company that makes vaccines and products addressing multiple therapeutic areas, including cancer, rare diseases, gastroenterology, and hematology. 

Its business provides essential products to patients around the world and can offer some good global diversification for investors as roughly half of the company's revenue comes from the U.S., with Europe, Canada, Japan, and other markets also playing a significant role in its business. 

Takeda's stock has outperformed the S&P 500 this year, declining just 7% since the start of 2022, while the broad index has nosedived by more than 22%. But shares of Takeda are still near their 52-week low of $12.63 (as of Oct. 17), and the stock now yields 5.7%, which is far higher than the S&P 500 average of 1.8%.

The company's fundamentals, however, suggest that the yield should be safe and the stock could potentially be a solid buy. Takeda has posted a profit in each of the past four years and a free cash flow of 798 billion yen ($5.3 billion) over the trailing 12 months is nearly three times the amount it has paid out in dividends during that time frame.

For income investors seeking some diversification, Takeda can make for a great buy today.

2. Duke Energy

Utility company Duke Energy provides investors with a relatively safe option to invest in during this bear market. It is among the largest energy holding companies in the country, with its electric utilities serving more than 8 million people.

Shares of Duke, however, have fallen 15% year to date and recently hit a new 52-week low of $83.76 as investors have been shying away from utility stocks, which often possess high debt levels. Duke is no exception, with its long-term debt totaling $63.1 billion as of the end of June 30, which is more than its equity of $51.6 billion.

However, the nature of the company's business means that Duke has a recurring customer base, and that can provide it with plenty of stability; over the past four years, its top line has been within a fairly narrow range of $23.8 billion and $25.1 billion.

Its operating income of $1.4 billion over the three-month period ended June 30 was more than double the $607 million that Duke paid out in interest expenses during that time. That left it with a per-share profit of $1.14, which is enough to cover its quarterly dividend payment of $1.005. Although that isn't a huge buffer, it's also not that worrying either, as depreciation and amortization costs, which are non-cash items, accounted for $1.3 billion in expenses this past quarter. When taking those items into account (excluding them), the dividend looks even safer.

Earlier this year, Duke announced a two-cent rate hike to its payouts, showing management's confidence in its ability to pay the dividend. Currently, the stock yields 4.5%.

3. Home Depot

Home Depot was a hot stock to own last year with the real estate market on fire. However, with housing prices coming down and inflation limiting how much money consumers have to spend on repairs and maintenance, Home Depot's stock has been falling. On Monday, it closed at $281.26, which is just 6% higher than its 52-week low of $264.51.

But the company's business remains strong, with Home Depot still projecting sales growth of 3% for the current fiscal year (which goes until the end of January). In the second quarter, for the period ended July 31, net sales of $43.8 billion rose 6.5% year over year, and net earnings of $5.2 billion climbed by 7.6%. Diluted EPS of $5.05 was more than double its quarterly dividend payment of $1.9 per share.

Although Home Depot's business may be slowing down (last year in Q2, sales rose by 8.1%), the company still looks to be in great shape. And its dividend, which yields 2.8%, also looks rock-solid.