This is the update of the buys and sales of T. Rowe Price Equity Income Fund for third quarter. The fund is run by the firm’s CIO Brian Rogers.
The fund slightly underperformed the market in the past 12 months. But for the last 3, 5, and 10 year, the fund has outperformed. 91% of the fund is ini US stocks. 3% is in cash. Financials are the fund’s largest holdings. Brian Rogers commented:
“Financial stocks constitute the largest sector exposure in the portfolio. We are widely invested among capital markets firms, commercial banks, credit card issuers, and insurers in the belief that their prospects look bright. Consumer discretionary is another major component, with exposure to appliance manufacturers, high-end retailers, and media companies that should perform well as the economy gets stronger. We also favor traditional energy companies since demand for oil and gas should continue to grow until viable alternative energy sources are more widely available.”
And his outlook: “… stock valuations look attractive, dividend yields are relatively appealing, and money that has been sitting on the sidelines should eventually enter the market and drive further advances in equities. Taking the long-term view, we are reasonably optimistic that the next decade will be a more rewarding period for investors than the past decade.”
Brian Rogers buys Beckman Coulter Inc., Texas Instruments Inc., sells Walmart Stores Inc., Intel Corp., The Progressive Corp., Campbell Soup Company during the 3-months ended 09/30/2010, according to the most recent filings of his investment company, T Rowe Price Equity Income Fund. Brian Rogers owns 124 stocks with a total value of $17.9 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Brian Rogers
Added: Applied Materials Inc. (AMAT, Financial)
Brian Rogers added to his holdings in Applied Materials Inc. by 113.64%. His purchase prices were between $10.37 and $12.61, with an estimated average price of $11.52. The impact to his portfolio due to this purchase was 0.37%. His holdings were 10,657,800 shares as of 09/30/2010.
Applied Materials develops, manufactures, markets and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. Applied Materials Inc. has a market cap of $15.95 billion; its shares were traded at around $11.94 with a P/E ratio of 19 and P/S ratio of 3.2. The dividend yield of Applied Materials Inc. stocks is 2.3%.
Added: Johnson & Johnson (JNJ, Financial)
Brian Rogers added to his holdings in Johnson & Johnson by 22.15%. His purchase prices were between $57.02 and $62.43, with an estimated average price of $59.49. The impact to his portfolio due to this purchase was 0.2%. His holdings were 3,256,400 shares as of 09/30/2010.
Johnson & Johnson is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world. Johnson & Johnson has a market cap of $175.18 billion; its shares were traded at around $63.6 with a P/E ratio of 13.5 and P/S ratio of 2.8. The dividend yield of Johnson & Johnson stocks is 3.4%. Johnson & Johnson had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Johnson & Johnson the business predictability rank of 4.5-star.
Added: Itt Corp. (ITT, Financial)
Brian Rogers added to his holdings in Itt Corp. by 37.12%. His purchase prices were between $42.5 and $50.42, with an estimated average price of $46.03. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,742,300 shares as of 09/30/2010.
ITT Corporation supplies advanced technology products and services in several growth markets. Itt Corp. has a market cap of $8.86 billion; its shares were traded at around $48.33 with a P/E ratio of 12.4 and P/S ratio of 0.8. The dividend yield of Itt Corp. stocks is 2.1%. Itt Corp. had an annual average earning growth of 11.4% over the past 10 years. GuruFocus rated Itt Corp. the business predictability rank of 3.5-star.
Added: Weyerhaeuser Company (WY, Financial)
Brian Rogers added to his holdings in Weyerhaeuser Company by 137.17%. His purchase prices were between $15.4 and $40.7224, with an estimated average price of $20.01. The impact to his portfolio due to this purchase was 0.19%. His holdings were 3,603,589 shares as of 09/30/2010.
Weyerhaeuser Company is principally engaged in the growing and harvesting of timber and the manufacture, distribution and sale of forest products, real estate development and construction, and other real estate relatedactivities. Weyerhaeuser Company has a market cap of $3.24 billion; its shares were traded at around $15.3 with and P/S ratio of 0.6. The dividend yield of Weyerhaeuser Company stocks is 0.4%.
Added: Firstenergy Corp. (FE, Financial)
Brian Rogers added to his holdings in Firstenergy Corp. by 46.88%. His purchase prices were between $34.6 and $38.81, with an estimated average price of $37.15. The impact to his portfolio due to this purchase was 0.15%. His holdings were 2,173,000 shares as of 09/30/2010.
FirstEnergy Corp. is a diversified energy services holding company as the result of the merger of Ohio Edison Company and Centerior Energy Corporation. Firstenergy Corp. has a market cap of $12.09 billion; its shares were traded at around $39.67 with a P/E ratio of 11.3 and P/S ratio of 0.9. The dividend yield of Firstenergy Corp. stocks is 5.6%. Firstenergy Corp. had an annual average earning growth of 3.9% over the past 10 years.
Added: Baker Hughes Inc. (BHI, Financial)
Brian Rogers added to his holdings in Baker Hughes Inc. by 49.56%. His purchase prices were between $37.58 and $50.23, with an estimated average price of $42.59. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,495,600 shares as of 09/30/2010.
Baker Hughes Inc. is engaged in the oilfield and process industries. Baker Hughes Inc. has a market cap of $19.48 billion; its shares were traded at around $45.19 with a P/E ratio of 29.5 and P/S ratio of 2. The dividend yield of Baker Hughes Inc. stocks is 1.3%. Baker Hughes Inc. had an annual average earning growth of 16.3% over the past 10 years. GuruFocus rated Baker Hughes Inc. the business predictability rank of 2.5-star.
Added: Vulcan Materials Company (VMC, Financial)
Brian Rogers added to his holdings in Vulcan Materials Company by 15.35%. His purchase prices were between $35.7 and $47.38, with an estimated average price of $40.61. The impact to his portfolio due to this purchase was 0.09%. His holdings were 3,310,300 shares as of 09/30/2010.
Vulcan Materials Company is the nation's foremost producer of constructionaggregates, a major producer of other construction materials and a leadingchemicals manufacturer, supplying chloralkali and other industrial andspecialty chemicals. Vulcan Materials Company has a market cap of $4.64 billion; its shares were traded at around $36.19 with a P/E ratio of 517 and P/S ratio of 1.7. The dividend yield of Vulcan Materials Company stocks is 2.7%.
New Purchase: Beckman Coulter Inc. (BEC, Financial)
Brian Rogers initiated holdings in Beckman Coulter Inc.. His purchase prices were between $44.58 and $63.25, with an estimated average price of $49.78. The impact to his portfolio due to this purchase was 0.38%. His holdings were 1,395,900 shares as of 09/30/2010.
Beckman Coulter, Inc. simplifies and automates laboratory processes used in all phases of the battle against disease. Beckman Coulter Inc. has a market cap of $3.38 billion; its shares were traded at around $48.77 with a P/E ratio of 12.7 and P/S ratio of 1.1. The dividend yield of Beckman Coulter Inc. stocks is 1.4%.
New Purchase: Texas Instruments Inc. (TXN, Financial)
Brian Rogers initiated holdings in Texas Instruments Inc.. His purchase prices were between $23.02 and $27.06, with an estimated average price of $24.83. The impact to his portfolio due to this purchase was 0.23%. His holdings were 1,495,600 shares as of 09/30/2010.
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 $33.57 billion; its shares were traded at around $28.09 with a P/E ratio of 13.4 and P/S ratio of 3.2. The dividend yield of Texas Instruments Inc. stocks is 1.7%. Texas Instruments Inc. had an annual average earning growth of 4.2% over the past 5 years.
Reduced: Deere & Company (DE, Financial)
Brian Rogers reduced to his holdings in Deere & Company by 40.16%. His sale prices were between $54.5 and $73.61, with an estimated average price of $65.47. The impact to his portfolio due to this sale was -0.26%. Brian Rogers still held 1,646,600 shares as of 09/30/2010.
Deere & Company is the one world's foremost producers of agricultural equipment as well as a manufacturer of construction, forestry, and commercial and consumer equipment. Deere & Company has a market cap of $32.4 billion; its shares were traded at around $76.44 with a P/E ratio of 20 and P/S ratio of 1.4. The dividend yield of Deere & Company stocks is 1.6%. Deere & Company had an annual average earning growth of 12.9% over the past 10 years.
Sold Out: Intel Corp. (INTC, Financial)
Brian Rogers sold out his holdings in Intel Corp.. His sale prices were between $17.665 and $21.78, with an estimated average price of $19.67.
Intel Corporation is one of the world's largest semiconductor chip maker. Intel Corp. has a market cap of $109.36 billion; its shares were traded at around $19.64 with a P/E ratio of 10.5 and P/S ratio of 3.1. The dividend yield of Intel Corp. stocks is 3.2%. Intel Corp. had an annual average earning growth of 2.5% over the past 10 years.
Sold Out: The Progressive Corp. (PGR, Financial)
Brian Rogers sold out his holdings in The Progressive Corp.. His sale prices were between $18.62 and $21.42, with an estimated average price of $20.02.
Progressive Corp. is an auto insurance company and a writer of auto insurance through independent agents. The Progressive Corp. has a market cap of $13.69 billion; its shares were traded at around $20.63 with a P/E ratio of 13.1 and P/S ratio of 0.9. The dividend yield of The Progressive Corp. stocks is 0.8%.
Sold Out: Walmart Stores Inc. (WMT, Financial)
Brian Rogers sold out his holdings in Walmart Stores Inc.. His sale prices were between $48 and $54.08, with an estimated average price of $51.35.
Wal-Mart Stores, Inc. is the world's largest retailer. Walmart Stores Inc. has a market cap of $194.45 billion; its shares were traded at around $53.47 with a P/E ratio of 13.8 and P/S ratio of 0.5. The dividend yield of Walmart Stores Inc. stocks is 2.3%. Walmart Stores Inc. had an annual average earning growth of 11.1% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.
Sold Out: Campbell Soup Company (CPB)
Brian Rogers sold out his holdings in Campbell Soup Company. His sale prices were between $35.31 and $37.47, with an estimated average price of $36.32.
Campbell Soup Company, together with its consolidated subsidiaries, is a global manufacturer and marketer of high quality, branded convenience food products. Campbell Soup Company has a market cap of $12.17 billion; its shares were traded at around $36.25 with a P/E ratio of 14.7 and P/S ratio of 1.6. The dividend yield of Campbell Soup Company stocks is 3%.
The fund slightly underperformed the market in the past 12 months. But for the last 3, 5, and 10 year, the fund has outperformed. 91% of the fund is ini US stocks. 3% is in cash. Financials are the fund’s largest holdings. Brian Rogers commented:
“Financial stocks constitute the largest sector exposure in the portfolio. We are widely invested among capital markets firms, commercial banks, credit card issuers, and insurers in the belief that their prospects look bright. Consumer discretionary is another major component, with exposure to appliance manufacturers, high-end retailers, and media companies that should perform well as the economy gets stronger. We also favor traditional energy companies since demand for oil and gas should continue to grow until viable alternative energy sources are more widely available.”
And his outlook: “… stock valuations look attractive, dividend yields are relatively appealing, and money that has been sitting on the sidelines should eventually enter the market and drive further advances in equities. Taking the long-term view, we are reasonably optimistic that the next decade will be a more rewarding period for investors than the past decade.”
Brian Rogers buys Beckman Coulter Inc., Texas Instruments Inc., sells Walmart Stores Inc., Intel Corp., The Progressive Corp., Campbell Soup Company during the 3-months ended 09/30/2010, according to the most recent filings of his investment company, T Rowe Price Equity Income Fund. Brian Rogers owns 124 stocks with a total value of $17.9 billion. These are the details of the buys and sells.
- New Purchases: BEC, TXN,
- Added Positions: AMAT, BHI, FE, ITT, JNJ, VMC, WY,
- Reduced Positions: DE,
- Sold Out: CPB, INTC, PGR, WMT,
This is the sector weightings of his portfolio:
| Financials | 19.3% |
| Industrials | 12.6% |
| Oil & Gas | 9.9% |
| Utilities | 8.9% |
| Consumer Services | 8.9% |
| Telecommunications | 8.5% |
| Health Care | 5.7% |
| Consumer Goods | 5.3% |
| Basic Materials | 4.6% |
| Technology | 4.2% |
These are the top 5 holdings of Brian Rogers
- JPMorgan Chase & Co. (JPM) - 13,660,400 shares, 3.04% of the total portfolio. Shares reduced by 0.29%
- Chevron Corp. (CVX) - 5,900,200 shares, 2.8% of the total portfolio. Shares reduced by 0.3%
- General Electric Company (GE) - 28,552,100 shares, 2.72% of the total portfolio. Shares added by 3.31%
- American Express Company (AXP) - 9,141,300 shares, 2.25% of the total portfolio. Shares reduced by 1.37%
- Exxon Mobil Corp. (XOM) - 6,099,600 shares, 2.21% of the total portfolio. Shares added by 3.07%
Added: Applied Materials Inc. (AMAT, Financial)
Brian Rogers added to his holdings in Applied Materials Inc. by 113.64%. His purchase prices were between $10.37 and $12.61, with an estimated average price of $11.52. The impact to his portfolio due to this purchase was 0.37%. His holdings were 10,657,800 shares as of 09/30/2010.
Applied Materials develops, manufactures, markets and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. Applied Materials Inc. has a market cap of $15.95 billion; its shares were traded at around $11.94 with a P/E ratio of 19 and P/S ratio of 3.2. The dividend yield of Applied Materials Inc. stocks is 2.3%.
Added: Johnson & Johnson (JNJ, Financial)
Brian Rogers added to his holdings in Johnson & Johnson by 22.15%. His purchase prices were between $57.02 and $62.43, with an estimated average price of $59.49. The impact to his portfolio due to this purchase was 0.2%. His holdings were 3,256,400 shares as of 09/30/2010.
Johnson & Johnson is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world. Johnson & Johnson has a market cap of $175.18 billion; its shares were traded at around $63.6 with a P/E ratio of 13.5 and P/S ratio of 2.8. The dividend yield of Johnson & Johnson stocks is 3.4%. Johnson & Johnson had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Johnson & Johnson the business predictability rank of 4.5-star.
Added: Itt Corp. (ITT, Financial)
Brian Rogers added to his holdings in Itt Corp. by 37.12%. His purchase prices were between $42.5 and $50.42, with an estimated average price of $46.03. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,742,300 shares as of 09/30/2010.
ITT Corporation supplies advanced technology products and services in several growth markets. Itt Corp. has a market cap of $8.86 billion; its shares were traded at around $48.33 with a P/E ratio of 12.4 and P/S ratio of 0.8. The dividend yield of Itt Corp. stocks is 2.1%. Itt Corp. had an annual average earning growth of 11.4% over the past 10 years. GuruFocus rated Itt Corp. the business predictability rank of 3.5-star.
Added: Weyerhaeuser Company (WY, Financial)
Brian Rogers added to his holdings in Weyerhaeuser Company by 137.17%. His purchase prices were between $15.4 and $40.7224, with an estimated average price of $20.01. The impact to his portfolio due to this purchase was 0.19%. His holdings were 3,603,589 shares as of 09/30/2010.
Weyerhaeuser Company is principally engaged in the growing and harvesting of timber and the manufacture, distribution and sale of forest products, real estate development and construction, and other real estate relatedactivities. Weyerhaeuser Company has a market cap of $3.24 billion; its shares were traded at around $15.3 with and P/S ratio of 0.6. The dividend yield of Weyerhaeuser Company stocks is 0.4%.
Added: Firstenergy Corp. (FE, Financial)
Brian Rogers added to his holdings in Firstenergy Corp. by 46.88%. His purchase prices were between $34.6 and $38.81, with an estimated average price of $37.15. The impact to his portfolio due to this purchase was 0.15%. His holdings were 2,173,000 shares as of 09/30/2010.
FirstEnergy Corp. is a diversified energy services holding company as the result of the merger of Ohio Edison Company and Centerior Energy Corporation. Firstenergy Corp. has a market cap of $12.09 billion; its shares were traded at around $39.67 with a P/E ratio of 11.3 and P/S ratio of 0.9. The dividend yield of Firstenergy Corp. stocks is 5.6%. Firstenergy Corp. had an annual average earning growth of 3.9% over the past 10 years.
Added: Baker Hughes Inc. (BHI, Financial)
Brian Rogers added to his holdings in Baker Hughes Inc. by 49.56%. His purchase prices were between $37.58 and $50.23, with an estimated average price of $42.59. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,495,600 shares as of 09/30/2010.
Baker Hughes Inc. is engaged in the oilfield and process industries. Baker Hughes Inc. has a market cap of $19.48 billion; its shares were traded at around $45.19 with a P/E ratio of 29.5 and P/S ratio of 2. The dividend yield of Baker Hughes Inc. stocks is 1.3%. Baker Hughes Inc. had an annual average earning growth of 16.3% over the past 10 years. GuruFocus rated Baker Hughes Inc. the business predictability rank of 2.5-star.
Added: Vulcan Materials Company (VMC, Financial)
Brian Rogers added to his holdings in Vulcan Materials Company by 15.35%. His purchase prices were between $35.7 and $47.38, with an estimated average price of $40.61. The impact to his portfolio due to this purchase was 0.09%. His holdings were 3,310,300 shares as of 09/30/2010.
Vulcan Materials Company is the nation's foremost producer of constructionaggregates, a major producer of other construction materials and a leadingchemicals manufacturer, supplying chloralkali and other industrial andspecialty chemicals. Vulcan Materials Company has a market cap of $4.64 billion; its shares were traded at around $36.19 with a P/E ratio of 517 and P/S ratio of 1.7. The dividend yield of Vulcan Materials Company stocks is 2.7%.
New Purchase: Beckman Coulter Inc. (BEC, Financial)
Brian Rogers initiated holdings in Beckman Coulter Inc.. His purchase prices were between $44.58 and $63.25, with an estimated average price of $49.78. The impact to his portfolio due to this purchase was 0.38%. His holdings were 1,395,900 shares as of 09/30/2010.
Beckman Coulter, Inc. simplifies and automates laboratory processes used in all phases of the battle against disease. Beckman Coulter Inc. has a market cap of $3.38 billion; its shares were traded at around $48.77 with a P/E ratio of 12.7 and P/S ratio of 1.1. The dividend yield of Beckman Coulter Inc. stocks is 1.4%.
New Purchase: Texas Instruments Inc. (TXN, Financial)
Brian Rogers initiated holdings in Texas Instruments Inc.. His purchase prices were between $23.02 and $27.06, with an estimated average price of $24.83. The impact to his portfolio due to this purchase was 0.23%. His holdings were 1,495,600 shares as of 09/30/2010.
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 $33.57 billion; its shares were traded at around $28.09 with a P/E ratio of 13.4 and P/S ratio of 3.2. The dividend yield of Texas Instruments Inc. stocks is 1.7%. Texas Instruments Inc. had an annual average earning growth of 4.2% over the past 5 years.
Reduced: Deere & Company (DE, Financial)
Brian Rogers reduced to his holdings in Deere & Company by 40.16%. His sale prices were between $54.5 and $73.61, with an estimated average price of $65.47. The impact to his portfolio due to this sale was -0.26%. Brian Rogers still held 1,646,600 shares as of 09/30/2010.
Deere & Company is the one world's foremost producers of agricultural equipment as well as a manufacturer of construction, forestry, and commercial and consumer equipment. Deere & Company has a market cap of $32.4 billion; its shares were traded at around $76.44 with a P/E ratio of 20 and P/S ratio of 1.4. The dividend yield of Deere & Company stocks is 1.6%. Deere & Company had an annual average earning growth of 12.9% over the past 10 years.
Sold Out: Intel Corp. (INTC, Financial)
Brian Rogers sold out his holdings in Intel Corp.. His sale prices were between $17.665 and $21.78, with an estimated average price of $19.67.
Intel Corporation is one of the world's largest semiconductor chip maker. Intel Corp. has a market cap of $109.36 billion; its shares were traded at around $19.64 with a P/E ratio of 10.5 and P/S ratio of 3.1. The dividend yield of Intel Corp. stocks is 3.2%. Intel Corp. had an annual average earning growth of 2.5% over the past 10 years.
Sold Out: The Progressive Corp. (PGR, Financial)
Brian Rogers sold out his holdings in The Progressive Corp.. His sale prices were between $18.62 and $21.42, with an estimated average price of $20.02.
Progressive Corp. is an auto insurance company and a writer of auto insurance through independent agents. The Progressive Corp. has a market cap of $13.69 billion; its shares were traded at around $20.63 with a P/E ratio of 13.1 and P/S ratio of 0.9. The dividend yield of The Progressive Corp. stocks is 0.8%.
Sold Out: Walmart Stores Inc. (WMT, Financial)
Brian Rogers sold out his holdings in Walmart Stores Inc.. His sale prices were between $48 and $54.08, with an estimated average price of $51.35.
Wal-Mart Stores, Inc. is the world's largest retailer. Walmart Stores Inc. has a market cap of $194.45 billion; its shares were traded at around $53.47 with a P/E ratio of 13.8 and P/S ratio of 0.5. The dividend yield of Walmart Stores Inc. stocks is 2.3%. Walmart Stores Inc. had an annual average earning growth of 11.1% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.
Sold Out: Campbell Soup Company (CPB)
Brian Rogers sold out his holdings in Campbell Soup Company. His sale prices were between $35.31 and $37.47, with an estimated average price of $36.32.
Campbell Soup Company, together with its consolidated subsidiaries, is a global manufacturer and marketer of high quality, branded convenience food products. Campbell Soup Company has a market cap of $12.17 billion; its shares were traded at around $36.25 with a P/E ratio of 14.7 and P/S ratio of 1.6. The dividend yield of Campbell Soup Company stocks is 3%.
