I’ve had couple of companies on my watch list and lately few of those have dropped down to really tempting levels. I was considering adding on to existing positions on DE and AFL but in the name of diversification decided to pull the trigger on Lockheed Martin Company. Defense sector was missing from my portfolio and when it comes to defense, LMT can deliver. I wouldn’t call it exceptionally cheap but today’s slight drop was enough for me and I bought 9 shares for 163,10 USD per share as an initial position.
Forward P/E is below 14, current yield is about 3.2o% and payout ratio about 61%. Fits very nicely to my current strategy.