Lockheed Martin Investment Management Co. Sells 1,070 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Lockheed Martin Investment Management Co. reduced its stake in Home Depot by 2.3%, selling 1,070 shares, currently holding 45,500 shares valued at approximately $16.68 million.
• Home Depot recently reported $3.56 EPS for the quarter, which missed analysts' expectations by $0.03, despite revenue rising by 9.4% year-over-year.
• The company announced a quarterly dividend of $2.30 per share, yielding 2.4%, with a payout ratio of 62.42%.

Lockheed Martin Investment Management Co. decreased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,500 shares of the home improvement retailer's stock after selling 1,070 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Home Depot were worth $16,675,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after purchasing an additional 720,447 shares during the last quarter. Asset Planning Services Inc. LA ADV increased its holdings in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after purchasing an additional 891,326 shares during the period. Capital Research Global Investors boosted its stake in Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after purchasing an additional 647,552 shares during the period. Finally, Northern Trust Corp boosted its stake in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

HD has been the subject of a number of research reports. Jefferies Financial Group reduced their price objective on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Robert W. Baird cut their target price on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. DA Davidson cut their target price on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Mizuho dropped their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada lowered their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $427.38.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Trading Up 1.8%

HD traded up $7.22 on Wednesday, reaching $403.22. 1,083,338 shares of the company's stock were exchanged, compared to its average volume of 3,486,184. The company's 50 day moving average is $368.49 and its 200-day moving average is $371.95. The company has a market cap of $401.18 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.63 earnings per share. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's payout ratio is presently 62.42%.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.