Signet Financial Management LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Signet Financial Management LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,456 shares of the home improvement retailer’s stock after selling 195 shares during the quarter. Signet Financial Management LLC’s holdings in Home Depot were worth $2,930,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HD. Optas LLC increased its stake in shares of Home Depot by 1.7% in the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after buying an additional 29 shares during the last quarter. Harvest Investment Advisors LLC increased its stake in shares of Home Depot by 0.8% in the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after buying an additional 30 shares during the last quarter. Armstrong Henry H Associates Inc. increased its stake in shares of Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after buying an additional 30 shares during the last quarter. CGC Financial Services LLC increased its stake in shares of Home Depot by 4.3% in the fourth quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock worth $250,000 after buying an additional 30 shares during the last quarter. Finally, Independent Investors Inc. increased its stake in shares of Home Depot by 0.5% in the fourth quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. HSBC reiterated a “reduce” rating and set a $323.00 target price on shares of Home Depot in a research note on Wednesday, April 3rd. Bank of America boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Wells Fargo & Company boosted their target price on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Finally, Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $375.96.

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $332.83 on Thursday. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The company has a market capitalization of $329.84 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.23 and a beta of 0.98. The firm has a 50-day moving average of $368.54 and a two-hundred day moving average of $339.01.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.30 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.70%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is presently 59.60%.

About Home Depot

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.