Despite their global presence, dividend stocks like Lockheed Martin (NYSE:), The Coca-Cola Company (NYSE:), and Walmart (NYSE:) are less affected by tariff noise than you might think.
Each company has an insulator to cushion the impacts of macroeconomic headwinds and a history of consistent growth. For investors, tariff-induced price dips in these names present a buying opportunity, as the long-term outlook for capital growth and return remains solid.
1. Lockheed Martin: Pulled Back to the Buy Zone
Lockheed Martin Corporation’s problems extend beyond tariffs and include weaknesses in the F-35 program and a lost contract in 2024. However, those issues are already priced into the stock, which is trading near critical support and a long-term uptrend line, as of mid-2025.
Regarding its insulation, the company derives more than 70% of its revenue from the U.S. government, with most of the remainder from international government defense contracts approved by the United States.
Lockheed’s revenue growth has been spotty quarterly, depending on the timing and recognition of contract awards, but it tracks higher annually. The Q1 F2025 results and outlook align with a mid-single-digit pace, sufficient to sustain balance sheet health and the capital return. Capital return is a critical component of defense stocks, and the stocks on this list, which include a substantial dividend and share repurchases.
Lockheed’s dividend isn’t the largest in the defense industry, but it is well above the broad market average and highly rated. The 2.8% yield is about twice the broad market average and reliable at roughly 45% of the earnings forecast and 22 years of distribution increases. Repurchases are also robust, reducing the share count by an average of 2.6% year-over-year (YOY) in FQ1.
2. Coca-Cola: Localized Distribution, To the Max
To say that the Coca-Cola system leans heavily on a localized supply chain is an understatement. The parent company has global reach and oversight, while local distributors are responsible for production and delivery. It has also focused on tariff-mitigating efforts, including price hedging and efficiency improvements.
Coca-Cola has been struggling with growth in 2025. However, its well-diversified, beverage-only strategy allows for steady revenue, roughly flat versus the prior year, and industry-leading performance. Business is also sufficient to sustain the balance sheet health and capital return.
The company’s dividend yield is nearly 3.0% in early Q2 2025, tracking near the high end of its historical range. Share repurchases are also reliable, reducing the count incrementally in Q1, providing support for the market.
Analyst trends support the KO market action in July, including increased coverage, firming sentiment, a consensus Buy rating, and price target increases. The consensus target forecasts about 8% upside while the revisions lead to the high-end range and another 5% to 10% gain.
3. Walmart: Capitalizing on Supply Chain Strength
Walmart not only has a well-localized supply chain, but it has taken advantage of its scale, cementing itself as the primary shopping destination for consumers across North America.
It is growing in 2025, leading the industry and taking share from competitors like Target. The 2025 outlook is for growth to accelerate as shoppers continue to lean into everyday low pricing and for margins to remain strong.
Walmart’s dividend yield isn’t fantastic at just under 1.0% but it is very reliable. The payout ratio is under 40%, growth is present and forecasted, and the balance sheet is healthy. Share buybacks are also included, reducing the share count by 0.4% in Q1 F2026.
Analyst activity is driving WMT shares to a new all-time high, which is likely to be reached before the end of calendar 2025. It includes firming sentiment, a Moderate Buy rating with bullish bias, and an uptrend in the consensus price target. The consensus is good for a 10% gain in early July, sufficient for a new all-time high, and the high-end range adds nearly 1500 basis points to it.