5 Quality Stocks With Dividend Yields Over 2%

3. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 55
Dividend Yield as of September 22: 2.65%

Lockheed Martin Corporation (NYSE:LMT) is an American aerospace company that manufactures security and defense products. The company also engages in research and development of advanced technological systems. In August, RBC Capital initiated its coverage of the stock with a Sector Perform rating and a $460 price target. The firm called the company the largest defense contractor globally and appreciated its portfolio.

In Q2 2022, Lockheed Martin Corporation (NYSE:LMT) reported an operating cash flow of $1.3 billion, up from $1.26 billion in the same period last year. The company generated $1.02 billion in free cash flow during the quarter, compared with $950 million in the prior-year period. It returned $1.1 billion to shareholders through dividends and share repurchases.

Lockheed Martin Corporation (NYSE:LMT) currently offers $2.80 per share in quarterly dividends. The company has been paying consecutive dividends to shareholders since 1996 and maintains a 19-year streak of dividend growth. As of September 22, the stock has a dividend yield of 2.65%.

As per Insider Monkey’s Q2 2022 database, 55 hedge funds had positions in Lockheed Martin Corporation (NYSE:LMT), compared with 56 a quarter earlier. The stakes owned by these hedge funds are valued at over $2.56 billion.

Old West Investment Management mentioned Lockheed Martin Corporation (NYSE:LMT) in its Q2 2022 investor letter. Here is what the firm has to say:

“As I sat in the theater watching Top Gun: Maverick, it gave me tremendous pride knowing we are shareholders of Lockheed Martin (NYSE:LMT). When the Top Gun: Maverick team was looking to push the envelope and stand true to Maverick’s need for speed, LMT’s Skunk Works was their first call. With Skunk Works expertise in developing the fastest known aircraft along with a passion for defining the future of aerospace, LMT is at the epicenter of our nation’s defense.

Based in Bethesda, Maryland, LMT is an American aerospace arms, defense, information security and technology company. LMT employs 115,000 people worldwide, including 60,000 engineers and scientists. LMT is the world’s largest defense contractor. They manufacture the F-16, F-22 and F-35 fighter jets, Sikorsky Black Hawk helicopters, Skunk Works technology, Javelin, Himars, and Tomahawk missile systems and much more…” (Click here to see the full text)