Fruth Investment Management Sells 350 Shares of Johnson & Johnson (NYSE:JNJ)


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Fruth Investment Management reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,786 shares of the company’s stock after selling 350 shares during the quarter. Johnson & Johnson accounts for 1.5% of Fruth Investment Management’s portfolio, making the stock its 15th biggest holding. Fruth Investment Management’s holdings in Johnson & Johnson were worth $4,215,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of Johnson & Johnson by 4.3% during the third quarter. Morgan Stanley now owns 22,472,765 shares of the company’s stock valued at $3,345,745,000 after purchasing an additional 933,976 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Johnson & Johnson by 8.9% in the third quarter. California Public Employees Retirement System now owns 10,616,780 shares of the company’s stock valued at $1,580,626,000 after acquiring an additional 864,547 shares during the period. Boston Partners lifted its holdings in Johnson & Johnson by 16.1% in the third quarter. Boston Partners now owns 6,862,037 shares of the company’s stock valued at $1,021,620,000 after acquiring an additional 949,327 shares during the period. Ninety One UK Ltd lifted its holdings in Johnson & Johnson by 5.7% in the third quarter. Ninety One UK Ltd now owns 5,827,983 shares of the company’s stock valued at $867,670,000 after acquiring an additional 313,670 shares during the period. Finally, Raymond James & Associates lifted its holdings in Johnson & Johnson by 0.5% in the third quarter. Raymond James & Associates now owns 3,688,170 shares of the company’s stock valued at $549,100,000 after acquiring an additional 17,275 shares during the period. 61.26% of the stock is currently owned by hedge funds and other institutional investors.

JNJ stock opened at $157.89 on Thursday. Johnson & Johnson has a 1-year low of $109.16 and a 1-year high of $161.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.24. The company has a market capitalization of $415.65 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 3.30 and a beta of 0.68. The business has a 50 day simple moving average of $152.86 and a two-hundred day simple moving average of $148.31.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Sunday, October 18th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.22. Johnson & Johnson had a net margin of 21.01% and a return on equity of 34.64%. The firm had revenue of $21.08 billion for the quarter, compared to analysts’ expectations of $20.15 billion. During the same quarter last year, the business posted $2.12 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Johnson & Johnson will post 7.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 9th. Investors of record on Tuesday, February 23rd will be given a dividend of $1.01 per share. The ex-dividend date is Monday, February 22nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.56%. Johnson & Johnson’s dividend payout ratio is 46.54%.

In related news, COO Michael E. Sneed sold 54,662 shares of the company’s stock in a transaction on Wednesday, December 9th. The shares were sold at an average price of $152.93, for a total transaction of $8,359,459.66. Following the completion of the transaction, the chief operating officer now owns 110,741 shares in the company, valued at $16,935,621.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on the company. Morgan Stanley increased their target price on Johnson & Johnson from $170.00 to $178.00 and gave the company an “overweight” rating in a report on Tuesday, December 15th. Cantor Fitzgerald increased their target price on Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. BidaskClub raised Johnson & Johnson from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 6th. Credit Suisse Group increased their target price on Johnson & Johnson from $163.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, October 14th. Finally, Raymond James reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Friday, November 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $165.50.

About Johnson & Johnson

Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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