Mathes Company Inc. Acquires Shares of 20,159 Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Oct 16th, 2023

Mathes Company Inc. acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,159 shares of the company’s stock, valued at approximately $3,337,000. Johnson & Johnson accounts for 1.5% of Mathes Company Inc.’s investment portfolio, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JNJ. Atlantic Private Wealth LLC purchased a new stake in shares of Johnson & Johnson in the first quarter worth approximately $32,000. 25 LLC purchased a new position in Johnson & Johnson during the 1st quarter worth $55,000. Horizons Wealth Management boosted its position in Johnson & Johnson by 1,730.0% during the 2nd quarter. Horizons Wealth Management now owns 366 shares of the company’s stock valued at $61,000 after acquiring an additional 346 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson during the 2nd quarter valued at $66,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Johnson & Johnson in the 2nd quarter worth $109,000. 68.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Barclays lifted their price target on Johnson & Johnson from $158.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday. HSBC assumed coverage on Johnson & Johnson in a report on Wednesday, September 6th. They issued a “hold” rating and a $175.00 price objective on the stock. Atlantic Securities lifted their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Finally, Raymond James lowered their target price on Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating on the stock in a report on Tuesday, September 5th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $171.00.

View Our Latest Research Report on Johnson & Johnson

Insider Buying and Selling

In related news, insider William Hait sold 14,698 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the sale, the insider now directly owns 87,747 shares in the company, valued at approximately $15,092,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider William Hait sold 14,698 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the sale, the insider now owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the completion of the transaction, the vice president now owns 102,696 shares in the company, valued at approximately $17,491,182.72. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $156.85 on Monday. The firm’s fifty day moving average price is $163.10 and its 200 day moving average price is $162.57. The company has a market capitalization of $407.65 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 3.21 and a beta of 0.55. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.59 EPS. On average, research analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, August 25th. Johnson & Johnson’s dividend payout ratio is currently 96.36%.

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.