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Gotham Asset Management Exits TJX Companies, Raytheon

GuruFocus.com
·5 min read

- By Tiziano Frateschi

Joel Greenblatt (Trades, Portfolio)'s Gotham Asset Management, LLC manages a $3.34 billion equity portfolio composed of 1044 stocks as of the quarter's end. The firm sold shares of the following stocks during the second quarter.


TJX Companies

The fund closed its position in TJX Companies Inc. (TJX). The trade had an impact of -0.86% on the portfolio.

Gotham Asset Management Exits TJX Companies, Raytheon
Gotham Asset Management Exits TJX Companies, Raytheon

The company, which retails apparel, home fashions and other merchandise, has a market cap of $68.82 billion and an enterprise value of $81.04 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 31.59% and return on assets of 7.07% are outperforming 84% of companies in the retail, cyclical industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.26 is below the industry median of 0.46.

The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 1.26% of outstanding shares, followed by Diamond Hill Capital (Trades, Portfolio) with 0.47%.

Raytheon

The fund exited its Raytheon Co. (RTN) holding when the comany merged with United Technologies to form Raytheon Technologies (RTX). The portfolio was impacted by -0.72%.

Gotham Asset Management Exits TJX Companies, Raytheon
Gotham Asset Management Exits TJX Companies, Raytheon

Chevron

The fund curbed its position in Chevron Corp. (CVX) by 46.13%. The portfolio was impacted by -0.54%.

Gotham Asset Management Exits TJX Companies, Raytheon
Gotham Asset Management Exits TJX Companies, Raytheon

The integrated energy company has a market cap of $163.63 billion and an enterprise value of $191.04 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of -5.92% and return on assets of -3.6% are underperforming 52% of companies in the oil and gas industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.2 is below the industry median of 0.37.

The largest guru shareholder is Ken Fisher (Trades, Portfolio) with 0.28% of outstanding shares, followed by Diamond Hill Capital (Trades, Portfolio) with 0.19% and Barrow, Hanley, Mewhinney & Strauss with 0.17%.

Booking

The fund reduced its Booking Holdings Inc. (BKNG) position by 61.25%, impacting the portfolio by -0.53%.

Gotham Asset Management Exits TJX Companies, Raytheon
Gotham Asset Management Exits TJX Companies, Raytheon

The online travel agency has a market cap of $72.84 billion and an enterprise value of $74.46 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 50.83% and return on assets of 12.34% are outperforming 94% of companies in the travel and leisure industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.87 is double than the industry median of 0.44.

The largest guru shareholder of the company is Dodge & Cox with 3.60% of outstanding shares, followed by Steve Mandel (Trades, Portfolio)'s Lone Pine Capital with 1.46% and Pioneer Investments (Trades, Portfolio) with 0.64%.

3M

The investment fund curbed its holding in 3M Co. (MMM) by 70.06%, impacting the portfolio by -0.50%.

Gotham Asset Management Exits TJX Companies, Raytheon
Gotham Asset Management Exits TJX Companies, Raytheon

The company has a market cap of $94.69 billion and an enterprise value of $111.90 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 49.51% and return on assets of 11.8% are outperforming 94% of companies in the industrial products industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.21 is below the industry median of 0.94.

The largest guru shareholder is Fisher with 0.77% of outstanding shares, followed by First Eagle Investment (Trades, Portfolio) with 0.51% and Jeremy Grantham (Trades, Portfolio) with 0.28%.

Stanley Black & Decker

The investment fund reduced its Stanley Black & Decker Inc. (SWK) position by 99.64%. The portfolio was impacted by -0.47%.

Gotham Asset Management Exits TJX Companies, Raytheon
Gotham Asset Management Exits TJX Companies, Raytheon

The company, which manufactures hand and power tools, has a market cap of $25.54 billion and an enterprise value of $31.55 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 8.94% and return on assets of 3.66% are outperforming 59% of companies in the industrial products industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.16 is below the industry median of 0.94.

The largest guru shareholder of the company is Barrow, Hanley, Mewhinney & Strauss with 2.52% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 2.21% and Richard Pzena (Trades, Portfolio) with 1.66%.

Delta Air Lines

The investment fund exited its holding in Delta Air Lines Inc. (DAL). The portfolio was impacted by -0.46%.

Gotham Asset Management Exits TJX Companies, Raytheon
Gotham Asset Management Exits TJX Companies, Raytheon

The company has a market cap of $17.62 billion and an enterprise value of $31.70 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of -27.14% and return on assets of -5.52% are underperforming 91% of companies in the transportation industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.51 is above the industry median of 0.3.

The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 3.72% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.06% and Stanley Druckenmiller (Trades, Portfolio) with 0.05%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.