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T Rowe Price Equity Income Fund Q3 Portfolio Update: Buys FO, KSS, DGX, GLW, PBR, YHOO

gurufocus

gurufocus

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T. Rowe PriceEquity Income Fund is run by the firm’s CIO, Brian Rogers. The fund's objective is to provide substantial dividend income as well as long-term capital appreciation through investments in common stocks of established companies. With more than $18 billion under management, Brian Rogers buys large companies mainly. These are his third quarter buys and sells.

In his latest commentary, Brian Rogers wrote: “While the level of uncertainty about economic policy has increased over the past few months, we remain cautiously optimistic about growth in the coming months. We do not believe the U.S. economy is heading for another typical recession; rather, the most likely outcome in our view is a so-called growth recession, characterized by slow economic growth and high unemployment. In addition, we believe the odds are favorable that sufficient action will be taken by the European Union to address the structural issues facing the region and to restore investor confidence. The massive sell-off of risky assets has created opportunities for long-term investors, as high-quality companies with cyclical exposure were punished along with the broader market.”

Brian Rogers buys Fortune Brands Inc., Kohls Corp., Corning Inc., Quest Diagnostics Inc., Diamond Offshore Drilling Inc., Emerson Electric Co., Archer Daniels Midland Co, Cooper Industries Cl A, Petroleo Brasileiiro Sa Petrobras, Yahoo! Inc., Raytheon Co., Whirlpool Corp., Texas Instruments Inc., Canadian Pacific Railway Ltd., Pnc Financial Services Group Inc., Northern Trust Corp., Murphy Oil Corp., Jp Morgan Chase, Nyse Euronext, Ingersollrand, sells Eli Lilly & Co., Sunoco Inc., Hershey Foods Corp., Electronic Arts Inc., Baker Hughes Inc., Keycorp, Centerpoint Energy Inc., General Mills Inc. during the 3-months ended 09/30/2011, according to the most recent filings of his investment company, T Rowe Price Equity Income Fund. As of 09/30/2011, T Rowe Price Equity Income Fund owns 21 stocks with a total value of $18.4 billion. These are the details of the buys and sells.

This is the portfolio chart of Brian Rogers. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Brian Rogers's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Brian+Rogers

This is the sector weightings of his portfolio:

Financials 16.2%
Not Assigned 13.6%
Industrials 11.2%
Consumer Goods 10.8%
Utilities 9.8%
Oil & Gas 9.4%
Consumer Services 7.5%
Technology 6.6%
Health Care 6.3%
Telecom 4.7%
Basic Materials 3.9%


These are the top 5 holdings of Brian Rogers

  1. Chevron (CVX) - 5,866,000 shares, 2.9548% of the total portfolio.
  2. General Electric Co. (GE) - 30,536,500 shares, 2.5337% of the total portfolio. Shares added by 3.04%
  3. JP Morgan Chase (JPM) - 14,631,200 shares, 2.3993% of the total portfolio. Shares added by 4.28%
  4. Exxon Mobil Corp. (XOM) - 6,064,200 shares, 2.398% of the total portfolio.
  5. American Express Co. (AXP) - 8,488,300 shares, 2.075% of the total portfolio. Shares reduced by 5.56%


Added: Diamond Offshore Drilling Inc. (DO)

Brian Rogers added to his holdings in Diamond Offshore Drilling Inc. by 120%. His purchase prices were between $56.14 and $72.73, with an estimated average price of $64.26. The impact to his portfolio due to this purchase was 0.45%. His holdings were 2,750,000 shares as of 09/30/2011.

Diamond Offshore Drilling, Inc. engages principally in the contract drilling of offshore oil and gas wells. Diamond Offshore Drilling Inc. has a market cap of $8.98 billion; its shares were traded at around $64.57 with a P/E ratio of 8.8 and P/S ratio of 2.7. The dividend yield of Diamond Offshore Drilling Inc. stocks is 0.8%. Diamond Offshore Drilling Inc. had an annual average earnings growth of 34.4% over the past 10 years. GuruFocus rated Diamond Offshore Drilling Inc. the business predictability rank of 3-star.

Added: Emerson Electric Co. (EMR)

Brian Rogers added to his holdings in Emerson Electric Co. by 86.36%. His purchase prices were between $41.89 and $58.15, with an estimated average price of $48.22. The impact to his portfolio due to this purchase was 0.34%. His holdings were 3,236,900 shares as of 09/30/2011.

Emerson is engaged principally in the worldwide design, manufactureand sale of a broad range of electrical, electromechanical and electronicproducts and systems. Emerson Electric Co. has a market cap of $35.49 billion; its shares were traded at around $47.66 with a P/E ratio of 15.5 and P/S ratio of 1.7. The dividend yield of Emerson Electric Co. stocks is 2.9%. Emerson Electric Co. had an annual average earnings growth of 9.6% over the past 10 years. GuruFocus rated Emerson Electric Co. the business predictability rank of 2.5-star.

Added: Archer Daniels Midland Co (ADM)

Brian Rogers added to his holdings in Archer Daniels Midland Co by 77.83%. His purchase prices were between $25.11 and $32.27, with an estimated average price of $28.64. The impact to his portfolio due to this purchase was 0.32%. His holdings were 5,483,600 shares as of 09/30/2011.

Archer Daniels Midland Company is a world leader in agricultural processing and fermentation technology. Archer Daniels Midland Co has a market cap of $19.33 billion; its shares were traded at around $28.94 with a P/E ratio of 9.3 and P/S ratio of 0.2. The dividend yield of Archer Daniels Midland Co stocks is 2.2%. Archer Daniels Midland Co had an annual average earnings growth of 17.7% over the past 10 years. GuruFocus rated Archer Daniels Midland Co the business predictability rank of 4-star.

Added: Cooper Industries Cl A (CBE)

Brian Rogers added to his holdings in Cooper Industries Cl A by 39.33%. His purchase prices were between $41.72 and $62.58, with an estimated average price of $50.52. The impact to his portfolio due to this purchase was 0.25%. His holdings were 3,542,900 shares as of 09/30/2011.

Cooper Industries Plc, formerly Cooper Industries, Ltd. Cooper Industries Cl A has a market cap of $8.78 billion; its shares were traded at around $53.24 with a P/E ratio of 14.7 and P/S ratio of 1.7. The dividend yield of Cooper Industries Cl A stocks is 2.2%. Cooper Industries Cl A had an annual average earnings growth of 6.9% over the past 10 years.

Added: Whirlpool Corp. (WHR)

Brian Rogers added to his holdings in Whirlpool Corp. by 17.29%. His purchase prices were between $48.01 and $82, with an estimated average price of $63.22. The impact to his portfolio due to this purchase was 0.14%. His holdings were 3,392,100 shares as of 09/30/2011.

Whirlpool Corp. manufactures and markets a full line of major appliances and related products, primarily for home use. Whirlpool Corp. has a market cap of $4.52 billion; its shares were traded at around $59.12 with a P/E ratio of 6.4 and P/S ratio of 0.2. The dividend yield of Whirlpool Corp. stocks is 3.4%.

Added: Texas Instruments Inc. (TXN)

Brian Rogers added to his holdings in Texas Instruments Inc. by 56.71%. His purchase prices were between $24.82 and $33.46, with an estimated average price of $28.34. The impact to his portfolio due to this purchase was 0.13%. His holdings were 2,486,900 shares as of 09/30/2011.

Texas Instruments, Inc. is a global semiconductor company and one of the world's designers and suppliers of digital signal processors and analog integrated circuits, the engines driving the digitization of electronics. Texas Instruments Inc. has a market cap of $36.61 billion; its shares were traded at around $31.69 with a P/E ratio of 12.9 and P/S ratio of 2.6. The dividend yield of Texas Instruments Inc. stocks is 1.6%. Texas Instruments Inc. had an annual average earnings growth of 7.9% over the past 5 years.

Added: Pnc Financial Services Group Inc. (PNC)

Brian Rogers added to his holdings in Pnc Financial Services Group Inc. by 15.82%. His purchase prices were between $43.12 and $60.59, with an estimated average price of $51.36. The impact to his portfolio due to this purchase was 0.12%. His holdings were 3,295,000 shares as of 09/30/2011.

The PNC Financial Services Group, Inc. is one of the nation's largest diversified financial services organizations, providing regional banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund services. Pnc Financial Services Group Inc. has a market cap of $28.93 billion; its shares were traded at around $54.98 with a P/E ratio of 8.6 and P/S ratio of 1.7. The dividend yield of Pnc Financial Services Group Inc. stocks is 2.5%. Pnc Financial Services Group Inc. had an annual average earnings growth of 5.9% over the past 10 years.

Added: Northern Trust Corp. (NTRS)

Brian Rogers added to his holdings in Northern Trust Corp. by 17.14%. His purchase prices were between $34.03 and $46.6, with an estimated average price of $39.8. The impact to his portfolio due to this purchase was 0.11%. His holdings were 4,100,000 shares as of 09/30/2011.

Northern Trust Corp. is a multi-bank holding company with worldwide locations and is a provider of treasury management, master trust, custody, retirement, risk and performance, international and investment management services for corporations, large institutions and individuals. Northern Trust Corp. has a market cap of $9.79 billion; its shares were traded at around $40.61 with a P/E ratio of 15.6 and P/S ratio of 2.7. The dividend yield of Northern Trust Corp. stocks is 2.8%. Northern Trust Corp. had an annual average earnings growth of 3.4% over the past 10 years.

Added: Murphy Oil Corp. (MUR)

Brian Rogers added to his holdings in Murphy Oil Corp. by 10.81%. His purchase prices were between $44.05 and $69.71, with an estimated average price of $56.02. The impact to his portfolio due to this purchase was 0.11%. His holdings were 4,612,100 shares as of 09/30/2011.

Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom and crude oil transportation and trading operations in Canada. Murphy Oil Corp. has a market cap of $10.8 billion; its shares were traded at around $55.8 with a P/E ratio of 11.3 and P/S ratio of 0.5. The dividend yield of Murphy Oil Corp. stocks is 2%. Murphy Oil Corp. had an annual average earnings growth of 19.3% over the past 10 years. GuruFocus rated Murphy Oil Corp. the business predictability rank of 4-star.

Added: Nyse Euronext (NYX)

Brian Rogers added to his holdings in Nyse Euronext by 26.69%. His purchase prices were between $24.01 and $35.44, with an estimated average price of $29.38. The impact to his portfolio due to this purchase was 0.1%. His holdings were 3,797,800 shares as of 09/30/2011.

NYSE Group, Inc. is a provider of securities listing, trading and market data products and services. Nyse Euronext has a market cap of $7.2 billion; its shares were traded at around $27.49 with a P/E ratio of 12.4 and P/S ratio of 1.6. The dividend yield of Nyse Euronext stocks is 4.4%.

Added: Jp Morgan Chase (JPM)

Brian Rogers added to his holdings in Jp Morgan Chase by 4.28%. His purchase prices were between $29.27 and $42.29, with an estimated average price of $36.55. The impact to his portfolio due to this purchase was 0.1%. His holdings were 14,631,200 shares as of 09/30/2011.

J.P. Morgan Chase & Co. is a global financial services firm. Jp Morgan Chase has a market cap of $134.79 billion; its shares were traded at around $34.57 with a P/E ratio of 7.4 and P/S ratio of 1.3. The dividend yield of Jp Morgan Chase stocks is 2.9%.

New Purchase: Fortune Brands Inc. (FO)

Brian Rogers initiated holdings in Fortune Brands Inc.. His purchase prices were between $51.47 and $64.99, with an estimated average price of $58.15. The impact to his portfolio due to this purchase was 1.26%. His holdings were 4,288,200 shares as of 09/30/2011.

Fortune Brands is a holding company with subsidiaries engaged in themanufacture and sale of home products (plumbing accessories, security devices and tool storage products), office products (stapling equipment, computer accessories and supplies), golf products and spirits and wine. Fortune Brands Inc. has a market cap of $8.37 billion; its shares were traded at around $54.2 with a P/E ratio of 18.9 and P/S ratio of 1.2. The dividend yield of Fortune Brands Inc. stocks is 1.4%.

New Purchase: Kohls Corp. (KSS)

Brian Rogers initiated holdings in Kohls Corp.. His purchase prices were between $42.6 and $57, with an estimated average price of $49.48. The impact to his portfolio due to this purchase was 0.63%. His holdings were 2,350,000 shares as of 09/30/2011.

Kohl's Corporation operates family oriented, specialty department stores primarily in the Midwest, Mid-Atlantic and Northeast areas of the United States that feature quality, national brand merchandise priced to provide exceptional value to customers. Kohls Corp. has a market cap of $14.65 billion; its shares were traded at around $54.37 with a P/E ratio of 13.2 and P/S ratio of 0.8. The dividend yield of Kohls Corp. stocks is 1.8%. Kohls Corp. had an annual average earnings growth of 12% over the past 10 years. GuruFocus rated Kohls Corp. the business predictability rank of 4-star.

New Purchase: Quest Diagnostics Inc. (DGX)

Brian Rogers initiated holdings in Quest Diagnostics Inc.. His purchase prices were between $46.21 and $60.59, with an estimated average price of $51.87. The impact to his portfolio due to this purchase was 0.56%. His holdings were 2,100,000 shares as of 09/30/2011.

Quest Diagnostics Inc., is the provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. Quest Diagnostics Inc. has a market cap of $8.07 billion; its shares were traded at around $50.98 with a P/E ratio of 12.3 and P/S ratio of 1.1. The dividend yield of Quest Diagnostics Inc. stocks is 0.8%. Quest Diagnostics Inc. had an annual average earnings growth of 13.2% over the past 10 years. GuruFocus rated Quest Diagnostics Inc. the business predictability rank of 4.5-star.

New Purchase: Corning Inc. (GLW)

Brian Rogers initiated holdings in Corning Inc.. His purchase prices were between $12.13 and $18.31, with an estimated average price of $15.01. The impact to his portfolio due to this purchase was 0.56%. His holdings were 8,250,000 shares as of 09/30/2011.

Corning Incorporated creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning Inc. has a market cap of $22.45 billion; its shares were traded at around $14.29 with a P/E ratio of 7.4 and P/S ratio of 3.4. The dividend yield of Corning Inc. stocks is 1.4%. Corning Inc. had an annual average earnings growth of 5.2% over the past 5 years.

New Purchase: Petroleo Brasileiiro Sa Petrobras (PBR)

Brian Rogers initiated holdings in Petroleo Brasileiiro Sa Petrobras. His purchase prices were between $23.07 and $34.75, with an estimated average price of $29.29. The impact to his portfolio due to this purchase was 0.21%. His holdings were 1,750,000 shares as of 09/30/2011.

PETROBRAS-ADR C is an integrated company operating in exploration, production, refining, retailing and transportation of petroleum and its byproducts at home and abroad. Petroleo Brasileiiro Sa Petrobras has a market cap of $92.51 billion; its shares were traded at around $24.86 with a P/E ratio of 6 and P/S ratio of 0.8. The dividend yield of Petroleo Brasileiiro Sa Petrobras stocks is 0.6%. Petroleo Brasileiiro Sa Petrobras had an annual average earnings growth of 20.2% over the past 10 years.

New Purchase: Yahoo! Inc. (YHOO)

Brian Rogers initiated holdings in Yahoo! Inc.. His purchase prices were between $11.09 and $15.81, with an estimated average price of $13.85. The impact to his portfolio due to this purchase was 0.2%. His holdings were 2,750,000 shares as of 09/30/2011.

Yahoo! Inc. is a global Internet communications, commerce and media company that offers a comprehensive branded network of services. Yahoo! Inc. has a market cap of $21.1 billion; its shares were traded at around $16.71 with a P/E ratio of 19.7 and P/S ratio of 3.3.

New Purchase: Raytheon Co. (RTN)

Brian Rogers initiated holdings in Raytheon Co.. His purchase prices were between $38.83 and $49.63, with an estimated average price of $43.12. The impact to his portfolio due to this purchase was 0.17%. His holdings were 750,000 shares as of 09/30/2011.

Raytheon Company is a global technology company. The company providesproducts and services in the areas of defense and commercial electronics,engineering and construction, and business and special mission aircraft. Raytheon Co. has a market cap of $15.72 billion; its shares were traded at around $44.46 with a P/E ratio of 8.2 and P/S ratio of 0.6. The dividend yield of Raytheon Co. stocks is 3.9%. Raytheon Co. had an annual average earnings growth of 13.7% over the past 10 years.

New Purchase: Canadian Pacific Railway Ltd. (CP)

Brian Rogers initiated holdings in Canadian Pacific Railway Ltd.. His purchase prices were between $44.92 and $63.9, with an estimated average price of $57.32. The impact to his portfolio due to this purchase was 0.13%. His holdings were 500,000 shares as of 09/30/2011.

Canadian Pacific Railway is North America's first transcontinental railway and is the only transcontinental carrier with direct service to the U. Canadian Pacific Railway Ltd. has a market cap of $10.09 billion; its shares were traded at around $59.57 with a P/E ratio of 18.6 and P/S ratio of 2. The dividend yield of Canadian Pacific Railway Ltd. stocks is 2.1%. Canadian Pacific Railway Ltd. had an annual average earnings growth of 5.9% over the past 10 years.

New Purchase: Ingersollrand (IR)

Brian Rogers initiated holdings in Ingersollrand. His purchase prices were between $27.56 and $46.77, with an estimated average price of $35.69. The impact to his portfolio due to this purchase was 0.08%. His holdings were 500,000 shares as of 09/30/2011.

Ingersoll Rand Company is one of the providers of security and safety, climate control, industrial productivity and infrastructure products. Ingersollrand has a market cap of $9.76 billion; its shares were traded at around $29.5 with a P/E ratio of 11.1 and P/S ratio of 0.7. The dividend yield of Ingersollrand stocks is 1.6%.

Reduced: Amc Networks Inc. (AMCX)

Brian Rogers reduced to his holdings in Amc Networks Inc. by vered. His sale prices were between $30.28 and $39.52, with an estimated average price of $35.43. The impact to his portfolio due to this sale was 0.24%. Brian Rogers still held 0 shares as of 09/30/2011.

AMC Networks Inc. is engaged in producing programming and movie content. Amc Networks Inc. has a market cap of $1.98 billion; its shares were traded at around $34.09 .

Reduced: Hershey Foods Corp. (HSY)

Brian Rogers reduced to his holdings in Hershey Foods Corp. by 40.63%. His sale prices were between $54.59 and $60, with an estimated average price of $57.42. The impact to his portfolio due to this sale was -0.43%. Brian Rogers still held 2,410,700 shares as of 09/30/2011.

The Hershey Company is a snack food company and the largest North American manufacturer of quality chocolate and non-chocolate confectionery products. Hershey Foods Corp. has a market cap of $13.76 billion; its shares were traded at around $60.5 with a P/E ratio of 22.6 and P/S ratio of 2.4. The dividend yield of Hershey Foods Corp. stocks is 2.3%. Hershey Foods Corp. had an annual average earnings growth of 5.1% over the past 10 years.

Reduced: Keycorp (KEY)

Brian Rogers reduced to his holdings in Keycorp by 86.36%. His sale prices were between $5.71 and $8.41, with an estimated average price of $7.05. The impact to his portfolio due to this sale was -0.31%. Brian Rogers still held 1,286,700 shares as of 09/30/2011.

KeyCorp is an integrated multi-line financial services company. Keycorp has a market cap of $6.83 billion; its shares were traded at around $7.17 with a P/E ratio of 6.9 and P/S ratio of 1.3. The dividend yield of Keycorp stocks is 1.7%.

Sold Out: Eli Lilly & Co. (LLY)

Brian Rogers sold out his holdings in Eli Lilly & Co.. His sale prices were between $34.49 and $39.32, with an estimated average price of $37.04.

Eli Lilly and Company discovers, develops, manufactures, and sells products in one significant business segment -pharmaceutical products. Eli Lilly & Co. has a market cap of $44.21 billion; its shares were traded at around $38.19 with a P/E ratio of 8.2 and P/S ratio of 1.9. The dividend yield of Eli Lilly & Co. stocks is 5.1%. Eli Lilly & Co. had an annual average earnings growth of 1.3% over the past 10 years.

Sold Out: Sunoco Inc. (SUN)

Brian Rogers sold out his holdings in Sunoco Inc.. His sale prices were between $30.09 and $42.92, with an estimated average price of $37.73.

Sunoco, Inc. is principally a petroleum refiner and marketer with interests in cokemaking. Sunoco Inc. has a market cap of $3.92 billion; its shares were traded at around $36.33 with and P/S ratio of 0.1. The dividend yield of Sunoco Inc. stocks is 1.6%. Sunoco Inc. had an annual average earnings growth of 10.8% over the past 10 years.

Sold Out: Electronic Arts Inc. (ERTS)

Brian Rogers sold out his holdings in Electronic Arts Inc.. His sale prices were between $17.62 and $25.05, with an estimated average price of $22.08.

Electronic Arts Inc. operates in two principal business segments globally: EA Core business segment: creation, marketing and distribution of entertainment software and the EA. Electronic Arts Inc. has a market cap of $8.23 billion; its shares were traded at around $24.94 with a P/E ratio of 356.3 and P/S ratio of 2.3.

Sold Out: Baker Hughes Inc. (BHI)

Brian Rogers sold out his holdings in Baker Hughes Inc.. His sale prices were between $48.59 and $79.94, with an estimated average price of $64.51.

Baker Hughes Inc. is engaged in the oilfield and process industries. Baker Hughes Inc. has a market cap of $24.65 billion; its shares were traded at around $56.51 with a P/E ratio of 17.7 and P/S ratio of 1.7. The dividend yield of Baker Hughes Inc. stocks is 1.1%. Baker Hughes Inc. had an annual average earnings growth of 11% over the past 10 years.

Sold Out: Centerpoint Energy Inc. (CNP)

Brian Rogers sold out his holdings in Centerpoint Energy Inc.. His sale prices were between $17.24 and $20.28, with an estimated average price of $19.49.

CenterPoint Energy is a domestic energy delivery company that includes electricity transmission and distribution, natural gas distribution and sales, interstate pipeline and gathering operations. Centerpoint Energy Inc. has a market cap of $9.05 billion; its shares were traded at around $21.25 with a P/E ratio of 18.3 and P/S ratio of 1. The dividend yield of Centerpoint Energy Inc. stocks is 3.7%. Centerpoint Energy Inc. had an annual average earnings growth of 4.9% over the past 10 years.

Sold Out: General Mills Inc. (GIS)

Brian Rogers sold out his holdings in General Mills Inc.. His sale prices were between $34.95 and $39.5, with an estimated average price of $37.33.

General Mills, Inc. is one of the producers of packaged consumer foods and markets its products primarily through its own sales organizations, supported by advertising and other promotional activities. General Mills Inc. has a market cap of $25.28 billion; its shares were traded at around $39.1 with a P/E ratio of 15.8 and P/S ratio of 1.7. The dividend yield of General Mills Inc. stocks is 3.1%. General Mills Inc. had an annual average earnings growth of 8.3% over the past 10 years. GuruFocus rated General Mills Inc. the business predictability rank of 5-star.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 3.8/5 (4 votes)

Comments

tradingtoday
Tradingtoday - 3 years ago


All recommendations for YAHOO are HOLD or BUY/STRONG BUY due to the buyout offers rolling in and some are between $18 and $20 be careful SEEKINGALPHA has allowed a writer to publish an article leaving out this very important information and is responsible for the price drop at 11:30 am. Stock manipulation. SeekingAlpha will not comment and or post investors comments with the missing information. I smell a LAW SUIT SEEKINGALPHA
LisaLL
LisaLL - 3 years ago


This fund has underperformed the S&P 500 in the 1-yr , 3-yr , and 5-yr periods

Please leave your comment:


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