On July 31, 2023, investment firm STATE STREET CORP (Trades, Portfolio) executed a significant transaction, reducing its stake in Leggett & Platt Inc (LEG, Financial). The firm sold 9,808,552 shares at a price of $29.26 per share, leaving it with a total of 7,139,520 shares in the company. This move had a -0.02% impact on STATE STREET CORP (Trades, Portfolio)'s portfolio and reduced its position in LEG to 5.36%. This article will delve into the details of this transaction, the profiles of the guru and the traded company, and the potential implications of this move.
Overview of STATE STREET CORP (Trades, Portfolio)
STATE STREET CORP (Trades, Portfolio), based in Boston, Massachusetts, is a prominent investment firm with a diverse portfolio. The firm holds 4,579 stocks, with a total equity of $1,769.19 trillion. Its top holdings include tech giants like Apple Inc (AAPL, Financial), Amazon.com Inc (AMZN, Financial), Microsoft Corp (MSFT, Financial), and NVIDIA Corp (NVDA, Financial), as well as Exxon Mobil Corp (XOM, Financial) in the energy sector. The firm's investment philosophy leans heavily towards the Technology and Healthcare sectors. 
Insight into Leggett & Platt Inc
Leggett & Platt Inc, a USA-based company, designs and produces engineered components and products found in most homes and automobiles. The company operates through three segments: Bedding Products, Specialized Products, and Furniture, Flooring and Textile Products. With a market cap of $3.94 billion, the company's stock price stands at $29.59 as of August 10, 2023. The company's PE percentage is 17.44, indicating a profitable operation. According to GuruFocus, the stock is modestly undervalued with a GF Value of $38.43 and a Price to GF Value ratio of 0.77. The company's GF Score is 85/100, suggesting a good outperformance potential. 
Financial Health of Leggett & Platt Inc
Leggett & Platt Inc's financial health is a crucial factor in understanding the implications of STATE STREET CORP (Trades, Portfolio)'s transaction. The company has a Financial Strength rank of 5/10, a Profitability Rank of 8/10, and a Growth Rank of 8/10. Its GF Value Rank is 9/10, and its Momentum Rank is 4/10. The company's Piotroski F-Score is 5, and its Altman Z score is 2.11. These figures suggest a stable financial position with room for growth.
Other Gurus' Involvement in Leggett & Platt Inc
Other investment gurus, such as Ken Fisher (Trades, Portfolio), also hold shares in Leggett & Platt Inc. Their involvement could influence the stock's performance and should be considered when analyzing the implications of STATE STREET CORP (Trades, Portfolio)'s transaction.
Conclusion
In conclusion, STATE STREET CORP (Trades, Portfolio)'s decision to reduce its stake in Leggett & Platt Inc is a significant move that could have various implications for both the guru and the traded company. Given the company's stable financial health and potential for growth, it will be interesting to see how this transaction influences the stock's performance and STATE STREET CORP (Trades, Portfolio)'s portfolio in the future.
