15 Best Dividend Stocks to Buy for Long-Term Passive Income

8. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 65

Lockheed Martin Corporation (NYSE:LMT) is an American defense and aerospace manufacturing company, based in Texas. The company specializes in advanced technology systems, services, and products. It reported stable earnings in the first quarter of 2025. The company’s revenue for the quarter came in at $18 billion, which showed a 4% growth on a YoY basis and also beat analysts’ estimates by $158.2 million.

Lockheed Martin Corporation (NYSE:LMT) stated that it remained committed to investing in its operations, with over $850 million allocated to research, development, and capital expenditures during the quarter. Management emphasized a strong focus on operational excellence to ensure the timely and efficient execution of its $173 billion backlog, which reflects more than two years’ worth of sales.

In addition, Lockheed Martin Corporation (NYSE:LMT)’s cash position also came in strong. The company generated $1.4 billion in operating cash flow, and its free cash flow amounted to $955 million. During the quarter, it returned $1.5 billion to shareholders through dividends and share repurchases. Its quarterly dividend currently comes in at $3.30 per share for a dividend yield of 2.84%, as recorded on April 24. LMT is one of the best dividend stocks for passive income, with 22 consecutive years of dividend growth under its belt.