The Home Depot, Inc. $HD Stock Position Trimmed by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. decreased its position in The Home Depot, Inc. (NYSE:HD) by 32.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,460 shares of the home improvement retailer’s stock after selling 13,630 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Home Depot were worth $8,097,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Home Depot during the 2nd quarter valued at approximately $28,771,247,000. State Street Corp raised its position in shares of Home Depot by 1.1% in the 2nd quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer’s stock valued at $16,637,688,000 after purchasing an additional 499,168 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Home Depot during the 2nd quarter valued at approximately $5,780,468,000. Bank of New York Mellon Corp bought a new position in Home Depot during the 2nd quarter valued at $2,777,396,000. Finally, Amundi increased its position in shares of Home Depot by 26.4% in the 2nd quarter. Amundi now owns 7,339,614 shares of the home improvement retailer’s stock worth $2,588,535,000 after purchasing an additional 1,533,276 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Teresa Roseborough sold 2,455 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $328.77, for a total value of $807,130.35. Following the completion of the transaction, the executive vice president directly owned 14,061 shares of the company’s stock, valued at $4,622,834.97. This represents a 14.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Rowe sold 710 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the sale, the executive vice president owned 6,838 shares in the company, valued at approximately $2,302,764.88. This represents a 9.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,829 shares of company stock valued at $3,339,314. Corporate insiders own 0.08% 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

Home Depot Stock Up 3.0%

HD stock opened at $353.77 on Tuesday. The stock has a market cap of $352.95 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.53 and a beta of 0.93. The firm’s 50-day simple moving average is $309.90 and its 200 day simple moving average is $333.92. The Home Depot, Inc. has a fifty-two week low of $277.15 and a fifty-two week high of $397.63. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The firm had revenue of $47.86 billion during the quarter, compared to analyst estimates of $47.24 billion. During the same period in the previous year, the business posted $4.68 EPS. Home Depot’s revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, sell-side 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. Stockholders of record on Thursday, September 3rd were given a dividend of $2.33 per share. The ex-dividend date was Thursday, September 3rd. This represents a $9.32 annualized dividend and a dividend yield of 2.6%. Home Depot’s payout ratio is currently 65.22%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HD. Sanford C. Bernstein cut their target price on shares of Home Depot from $354.00 to $344.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $398.00 price target on shares of Home Depot in a research note on Tuesday, August 18th. Truist Financial boosted their price objective on Home Depot from $369.00 to $373.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $396.00 to $400.00 and gave the company an “overweight” rating in a report on Monday. Finally, UBS Group restated a “buy” rating on shares of Home Depot in a research note on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.45.

About Home Depot

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.