The Home Depot, Inc. $HD Stock: Lockheed Martin Investment Management Co. Trims Position

Key Points

• Lockheed Martin Investment Management Co. cut its Home Depot stake by 32.4% in the third quarter, selling 13,630 shares and retaining 28,460 shares valued at about $8.1 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $375.45; JPMorgan recently raised its target to $400 and kept an overweight rating.
• Home Depot exceeded quarterly earnings and revenue expectations, reporting EPS of $4.92 and revenue of $47.86 billion, up 5.7% year over year.

Lockheed Martin Investment Management Co. trimmed its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 32.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,460 shares of the home improvement retailer's stock after selling 13,630 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Home Depot were worth $8,097,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Zeit Capital LLC acquired a new position in shares of Home Depot during the 2nd quarter valued at about $26,000. Principia Wealth Advisory LLC boosted its position in shares of Home Depot by 60.4% in the second quarter. Principia Wealth Advisory LLC now owns 85 shares of the home improvement retailer's stock worth $30,000 after acquiring an additional 32 shares during the last quarter. Navigoe LLC acquired a new stake in shares of Home Depot in the second quarter worth approximately $32,000. Gould Capital LLC boosted its position in shares of Home Depot by 58.7% in the first quarter. Gould Capital LLC now owns 100 shares of the home improvement retailer's stock worth $33,000 after acquiring an additional 37 shares during the last quarter. Finally, Next Level Wealth Planning LLC acquired a new stake in shares of Home Depot in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Key Stories Impacting Home Depot

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: JPMorgan raised its price target to $400 from $396 and maintained an “overweight” rating, implying potential upside from the share price cited in the report. JPMorgan rating information
• Positive Sentiment: HD rose in the latest trading session and outperformed the broader market, according to reports. Home Depot rises higher than market
• Neutral Sentiment: Analysts remain cautiously optimistic about Home Depot’s outlook despite the stock’s underperformance relative to the broader market over the past year. Home Depot analyst estimates and ratings
• Negative Sentiment: A housing slowdown, costly debt and a high valuation are cited as challenges, while the stock’s lack of progress over the past five years may weigh on investor confidence. Home Depot’s long-term shareholder returns and challenges

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HD. UBS Group restated a "buy" rating on shares of Home Depot in a report on Thursday, September 17th. Guggenheim reaffirmed a "buy" rating and set a $425.00 price target on shares of Home Depot in a research note on Wednesday, August 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of Home Depot in a report on Friday, October 2nd. Royal Bank Of Canada decreased their price target on shares of Home Depot from $343.00 to $342.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 19th. Finally, KeyCorp reissued a "sector weight" rating on shares of Home Depot in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $375.45.

Insider Buying and Selling at Home Depot

In other news, CAO Kimberly R. Scardino sold 675 shares of the firm's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $305.95, for a total value of $206,516.25. Following the transaction, the chief accounting officer owned 8,189 shares of the company's stock, valued at approximately $2,505,424.55. This trade represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Roseborough sold 2,455 shares of Home Depot stock in a transaction on Friday, August 28th. The shares were sold at an average price of $328.77, for a total transaction of $807,130.35. Following the transaction, the executive vice president owned 14,061 shares in the company, valued at $4,622,834.97. The trade was a 14.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,829 shares of company stock valued at $3,339,314 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

Home Depot Stock Performance

NYSE HD opened at $353.77 on Tuesday. The firm has a market capitalization of $352.95 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.53 and a beta of 0.93. The Home Depot, Inc. has a 1-year low of $277.15 and a 1-year high of $397.63. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31. The business's 50-day simple moving average is $309.90 and its 200-day simple moving average is $333.92.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.73 by $0.19. The business had revenue of $47.86 billion during the quarter, compared to analysts' expectations of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.68 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were paid a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, September 3rd. Home Depot's payout ratio is currently 65.22%.

Home Depot Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.