5 Stocks for Dividend Growth Investing in 2022

4. Lockheed Martin Corporation (NYSE:LMT)

Dividend Yield as of January 24: 3.02%

Number of Years of Consistent Dividend Increases: 19

Number of Hedge Fund Holders: 51

Lockheed Martin Corporation (NYSE:LMT) is an American aerospace company with multiple divisions including aeronautics, missiles and fire control, rotary and mission systems, and space. Lockheed Martin Corporation (NYSE:LMT) has consistently elevated its dividend payments for 19 years, and the company delivers a 3.02% yield.

On September 23, Lockheed Martin Corporation (NYSE:LMT) declared a $2.80 per share quarterly dividend, which reflects a 7.7% increase from its prior dividend of $2.60. The dividend was paid on December 27, to shareholders of record on December 1.

Wells Fargo analyst Matthew Akers raised the price target on Lockheed Martin Corporation (NYSE:LMT) to $379 from $340 and kept an Equal Weight rating on the shares on January 10. The analyst noted that Lockheed Martin Corporation (NYSE:LMT)’s large exposure to the F-35 aircraft family is now a liability after driving outsized growth for the past several years, although new programs transitioning to production could offset risk to legacy rotorcraft platforms. Future Vertical Lift FLRAA program remains a big opportunity, the analyst added in a research note.

Among the hedge funds monitored by Insider Monkey in the third quarter of 2021, 51 funds were bullish on Lockheed Martin Corporation (NYSE:LMT), down from 58 funds in the prior quarter. Israel Englander’s Millennium Management is one of the leading Lockheed Martin Corporation (NYSE:LMT) stakeholders. Englander’s fund boosted its stake in the company by 4753% in the third quarter, holding a total of 561,512 shares worth $193.7 million.

Here is what Vltava Fund has to say about Lockheed Martin Corporation (NYSE:LMT) in its Q4 2021 investor letter:

“Of course, not all of our companies are doing better than we expected. Lockheed Martin fell somewhat short of our expectations last year. In the cases of Lockheed disruptions in the supply and logistics chains. Lockheed uses a great many subcontractors from various countries and could not avoid issues with continuity of supplies. As a result, production will be slightly lower than we had expected.”