Ledyard National Bank Sells 1,853 Shares of The Home Depot, Inc. (NYSE:HD)

Ledyard National Bank reduced its stake in The Home Depot, Inc. (NYSE:HD) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,330 shares of the home improvement retailer’s stock after selling 1,853 shares during the quarter. Home Depot makes up approximately 1.3% of Ledyard National Bank’s investment portfolio, making the stock its 22nd biggest position. Ledyard National Bank’s holdings in Home Depot were worth $13,354,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Home Depot during the 3rd quarter valued at $336,231,000. FMR LLC boosted its holdings in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Home Depot by 295.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after buying an additional 518,054 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after acquiring an additional 433,126 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 in the last 90 days. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America increased their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Truist Financial increased their price objective on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Evercore ISI boosted their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Down 1.6 %

Shares of NYSE HD opened at $407.39 on Friday. The company has a market cap of $404.68 billion, a P/E ratio of 27.68, a PEG ratio of 4.34 and a beta of 1.05. The firm has a 50-day simple moving average of $406.58 and a two-hundred day simple moving average of $393.70. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the business earned $3.81 EPS. Home Depot’s revenue was up 6.6% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Home Depot 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.