By Kevin Cook, senior stock strategist with Zacks.com

On Tuesday, I screened for stocks with strong fundamentals and a discount price. Although conservative, this strategy has proven to be a solid out performer in the past. Fourteen companies surfaced from this screen, with the top three results shown in alphabetical order. Here they are:

AGCO CORP (AGCO) is engaged in the manufacture and distribution of farm equipment, machinery and replacement parts in the United States and Canada. Products include tractors, combines, hay tools and forage equipment and implements. This $4.2 billion company has a forward P/E multiple of under 10 times and is projected to grow earnings at 20%. In the last four quarters, it has delivered an earnings surprise with an average 42.5% beat. As a solid, growing company making equipment for the global agricultural megatrend, this one may serve as an alternative to Deere (DE) and CNH Global (CNH).

AAR Corp (AIR) is a worldwide leader in supplying aftermarket products and services to the global aerospace/aviation industry. It provides aircraft, engines and engine parts as well as overhaul, repair and maintenance services to customers in all segments of this industry, including the world's largest commercial airlines and air cargo operators. AAR has a market cap below $800 million. With expected earnings growth of 15%, sales growth of 11%, and forward multiple of just under 10 times, this is a small cap value worth looking at.

FedEx (FDX) needs no introduction, but it is worth noting that since it offers customers a one-stop source for global shipping, logistics and supply chain solutions, it is just as much an information-technolo​gy company as IBM (IBM), Visa (V), or Amazon (AMZN). The $26 billion company is trading at 13 times forward earnings, which are expected to grow at 15%. Its growth, as one of the top two shipping companies in the world, will likely continue as the developing world finds more need for its services.

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