AGM....18/11/2016, page-28

Bought in today at $2.79 ahead of what is hopefully a positive outlook update at the AGM.
I've got a conservative current intrinsic value at $3.00 for F17, using 12% NPAT growth v F16, increased dividend payout ratio to 40% and required return of 10%.

Speculatively, with Trump's murmurings about increased naval presence in the pacific, and other ramp ups in US defence spending, Lockheed Martin stands to require additional services from the likes of ADA.

Movements in the AUD could be the constrain or the cream on top.

Will look to increase holdings depending on commentary at AGM and subsequent F17H1 reporting.