I'll admit it. I once washed my hair with Johnson & Johnson's (NYSE:JNJ) baby shampoo as an adult. That whole "no more tears" thing is true.

However, I'll also admit that I've always had a hard time trying to pigeonhole J&J. Is it a pharmaceuticals company like Bristol-Myers Squibb (NYSE:BMY) and Bayer (NYSE:BAY), or is it more of a consumer-nondurable-goods specialist like Colgate-Palmolive (NYSE:CL) and Procter & Gamble (NYSE:PG)?

Investors can be thankful that they don't have to make that kind of distinction. They just need to decide whether the stock belongs in their portfolio. With a healthy 2.3% yield and a long history of dividend hikes, the stock was a logical recommendation for Income Investor newsletter-service subscribers . but is it right for you?

Not all Fools agree. This week, Steven Mallas returns with a bullish prognosis on the company, while Brian Lawler makes his Dueling Fools debut as this week's bear.

Duel on!

Colgate-Palmolive is a Motley Fool Inside Value recommendation.

Longtime Fool contributor Rick Munarriz does not own shares of any company mentioned here. The Fool has a disclosure policy.