Chevron (CVX): Earnings Yield 10.2%
Hewlett Packard (HPQ): 10.6%
Intel (INTC): 9.6%
Merck (MRK): 9.1%
J.P. Morgan Chase (JPM): 8.6%
Pfizer (PFE): 12.2%
Travelers (TRV): 11.1%
Naturally, earnings yield for these stocks is generally a bit higher based upon current 2011 estimates.
Microsoft (MSFT) was close to making this list but could not make the cut with a 7.9% earnings yield. If the company's $ 30 billion+ net cash position is taken into account (ie enterprise value) the earnings yield sits comfortably above 8%. The same holds true for Cisco (CSCO).
Here's a simple way to check the consensus earnings for the 30 DJIA stocks.
Currently have long positions in MSFT, CSCO, CVX, and PFE