Abstract: A manually-operable tool for holding a magazine containing a plurality of stacked, individual electrical components and selectively dispensing the components from the tool in predetermined orientation for loading on a printed circuit board, or the like. The magazine is inserted into an appropriately configured opening in the tool which is held by the operator with the magazine substantially vertical so that components are gravity fed to the lower end. Depression of a spring loaded rod by the operator's thumb moves a plunger to push a component out of engagement between a pair of gripper members. On the return stroke of the rod, a component transport member is moved thereby to carry the lowermost component fed by gravity from the magazine to engagement between the gripper members for ejection on the next depression of the rod and plunger.