Charter Trust Co. Acquires New Stake in Red Hat Inc (RHT)

Charter Trust Co. acquired a new position in shares of Red Hat Inc (NYSE:RHT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,757 shares of the open-source software company’s stock, valued at approximately $211,000.

Several other hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Red Hat by 1.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 680,404 shares of the open-source software company’s stock worth $81,717,000 after acquiring an additional 11,248 shares in the last quarter. HWG Holdings LP bought a new stake in shares of Red Hat during the fourth quarter worth $285,000. DAVENPORT & Co LLC bought a new stake in shares of Red Hat during the fourth quarter worth $234,000. Creative Planning increased its position in shares of Red Hat by 31.3% during the fourth quarter. Creative Planning now owns 8,205 shares of the open-source software company’s stock worth $985,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Red Hat by 93.9% in the fourth quarter. Bank of Montreal Can now owns 1,242,177 shares of the open-source software company’s stock valued at $149,187,000 after purchasing an additional 601,622 shares in the last quarter. 94.32% of the stock is owned by institutional investors.

In other news, CEO James M. Whitehurst sold 5,593 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $698,397.91. Following the completion of the sale, the chief executive officer now owns 373,506 shares in the company, valued at approximately $46,639,694.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Delisa Alexander sold 1,393 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $173,943.91. Following the sale, the executive vice president now owns 36,420 shares of the company’s stock, valued at approximately $4,547,765.40. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Shares of Red Hat Inc (RHT) opened at $125.47 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $22,200.00, a PE ratio of 68.19, a PEG ratio of 3.80 and a beta of 1.19. Red Hat Inc has a 12 month low of $73.46 and a 12 month high of $130.93.

Red Hat (NYSE:RHT) last posted its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $747.98 million during the quarter, compared to analysts’ expectations of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. Red Hat’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. research analysts forecast that Red Hat Inc will post 2.08 earnings per share for the current year.

RHT has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Thursday, September 21st. Cowen reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Red Hat in a research report on Sunday, September 24th. Drexel Hamilton reaffirmed a “buy” rating and issued a $130.00 target price (up previously from $127.00) on shares of Red Hat in a research report on Monday, September 25th. Robert W. Baird reaffirmed a “hold” rating on shares of Red Hat in a research report on Tuesday, September 26th. Finally, Jefferies Group raised their target price on shares of Red Hat to $100.00 and gave the company a “hold” rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and a consensus target price of $124.25.

TRADEMARK VIOLATION WARNING: “Charter Trust Co. Acquires New Stake in Red Hat Inc (RHT)” was reported by BBNS and is owned by of BBNS. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://baseballnewssource.com/markets/charter-trust-co-acquires-new-stake-in-red-hat-inc-rht/1846049.html.

About Red Hat

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc (NYSE:RHT).

Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets


Leave a Reply

 
© 2006-2018 BBNS.