Lockheed Martin reported third quarter results and stock declined about 10 percent. Guidance was soft and all that but long term thesis is still there at least for me. Conflicts will never go out of fashion and space will be a key sector in the long term. Therefore I added 5 shares for 336,90 USD per share. Personally I consider current valuation as decent given the overall market and political environment. Not exceptionally cheap but decent. This does not really reduce my cash position but acts as a monthly maintenance purchase for dividend portfolio.
Another boring quarter has passed and much like previous ones, this one quite passive as well. Only minor maintenance purchases were made in Kemira Oyj and one slightly bigger one with an entry into AbbVie Inc. Decent turnaround in portfolio continued and settled into sideways movement towards the end. Dividend income before taxes was 1436.08 EUR during the quarter.
Another positive development was ECB’s approval for Nordea to pay dividends that were on hold for quite a long time. Sampo as my largest position will receive quite a respectable amount of these while it is still working on the sale of whole Nordea position. Both are also planning on purchasing their own shares. Expectation is that Sampo will distribute extra dividend in addition to those purchases. Expectations for Q4/2021 and H1/2022 are quite positive in this sense. Otherwise I’m still in waiting pattern and plan to make only moderate purchases until there’s a significant correction taking place. Increased exposure for pharmaceuticals, defence, water and chemicals are likely targets of those purchases.