Sentry Investment Management LLC Raises Position in Red Hat, Inc. (RHT)

Sentry Investment Management LLC increased its holdings in Red Hat, Inc. (NYSE:RHT) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,198 shares of the open-source software company’s stock after buying an additional 3,872 shares during the quarter. Sentry Investment Management LLC’s holdings in Red Hat were worth $5,189,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Red Hat by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock worth $1,687,836,000 after buying an additional 479,615 shares during the period. FMR LLC increased its holdings in Red Hat by 10.8% in the 2nd quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock worth $1,069,110,000 after buying an additional 1,085,953 shares during the period. Northern Trust Corp increased its holdings in Red Hat by 28.8% in the 2nd quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock worth $363,365,000 after buying an additional 848,777 shares during the period. DF Dent & Co. Inc. increased its holdings in Red Hat by 2.7% in the 1st quarter. DF Dent & Co. Inc. now owns 1,803,495 shares of the open-source software company’s stock worth $156,002,000 after buying an additional 47,219 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in Red Hat by 34.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock worth $124,758,000 after buying an additional 333,408 shares during the period. Institutional investors own 94.03% of the company’s stock.

Red Hat, Inc. (NYSE:RHT) traded up 0.16% on Friday, hitting $121.10. The stock had a trading volume of 1,553,142 shares. The stock has a market cap of $21.43 billion, a price-to-earnings ratio of 72.47 and a beta of 1.25. Red Hat, Inc. has a one year low of $68.54 and a one year high of $122.31. The stock’s 50 day moving average is $110.14 and its 200 day moving average is $97.09.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The business had revenue of $723.60 million for the quarter, compared to the consensus estimate of $699.56 million. During the same period in the prior year, the business earned $0.55 earnings per share. The business’s revenue was up 20.6% on a year-over-year basis. Analysts anticipate that Red Hat, Inc. will post $2.79 earnings per share for the current year.

Several brokerages recently weighed in on RHT. Deutsche Bank AG reiterated a “buy” rating and issued a $130.00 price target on shares of Red Hat in a report on Monday, October 2nd. BTIG Research reaffirmed a “buy” rating and set a $120.00 price objective on shares of Red Hat in a research note on Wednesday, September 27th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $124.00 price objective (up previously from $120.00) on shares of Red Hat in a research note on Wednesday, September 27th. KeyCorp reaffirmed an “overweight” rating and set a $125.00 price objective (up previously from $121.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Oppenheimer Holdings, Inc. raised their price objective on shares of Red Hat from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 26th. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Red Hat presently has a consensus rating of “Buy” and a consensus price target of $110.93.

WARNING: This report was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another website, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/15/sentry-investment-management-llc-raises-position-in-red-hat-inc-rht.html.

In other news, CFO Eric Ryan Shander sold 1,521 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total value of $152,069.58. Following the sale, the chief financial officer now directly owns 9,913 shares in the company, valued at $991,101.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Delisa Alexander sold 2,444 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares w

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Red Hat by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock worth $1,687,836,000 after buying an additional 479,615 shares during the period. FMR LLC increased its holdings in Red Hat by 10.8% in the 2nd quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock worth $1,069,110,000 after buying an additional 1,085,953 shares during the period. Northern Trust Corp increased its holdings in Red Hat by 28.8% in the 2nd quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock worth $363,365,000 after buying an additional 848,777 shares during the period. DF Dent & Co. Inc. increased its holdings in Red Hat by 2.7% in the 1st quarter. DF Dent & Co. Inc. now owns 1,803,495 shares of the open-source software company’s stock worth $156,002,000 after buying an additional 47,219 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in Red Hat by 34.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock worth $124,758,000 after buying an additional 333,408 shares during the period. Institutional investors own 94.03% of the company’s stock.

Red Hat, Inc. (NYSE:RHT) traded up 0.16% on Friday, hitting $121.10. The stock had a trading volume of 1,553,142 shares. The stock has a market cap of $21.43 billion, a price-to-earnings ratio of 72.47 and a beta of 1.25. Red Hat, Inc. has a one year low of $68.54 and a one year high of $122.31. The stock’s 50 day moving average is $110.14 and its 200 day moving average is $97.09.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The business had revenue of $723.60 million for the quarter, compared to the consensus estimate of $699.56 million. During the same period in the prior year, the business earned $0.55 earnings per share. The business’s revenue was up 20.6% on a year-over-year basis. Analysts anticipate that Red Hat, Inc. will post $2.79 earnings per share for the current year.

Several brokerages recently weighed in on RHT. Deutsche Bank AG reiterated a “buy” rating and issued a $130.00 price target on shares of Red Hat in a report on Monday, October 2nd. BTIG Research reaffirmed a “buy” rating and set a $120.00 price objective on shares of Red Hat in a research note on Wednesday, September 27th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $124.00 price objective (up previously from $120.00) on shares of Red Hat in a research note on Wednesday, September 27th. KeyCorp reaffirmed an “overweight” rating and set a $125.00 price objective (up previously from $121.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Oppenheimer Holdings, Inc. raised their price objective on shares of Red Hat from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 26th. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Red Hat presently has a consensus rating of “Buy” and a consensus price target of $110.93.

WARNING: This report was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another website, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/15/sentry-investment-management-llc-raises-position-in-red-hat-inc-rht.html.

In other news, CFO Eric Ryan Shander sold 1,521 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total value of $152,069.58. Following the sale, the chief financial officer now directly owns 9,913 shares in the company, valued at $991,101.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Delisa Alexander sold 2,444 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $98.25, for a total value of $240,123.00. Following the completion of the sale, the executive vice president now owns 41,570 shares in the company, valued at $4,084,252.50. The disclosure for this sale can be found here. Insiders sold 39,087 shares of company stock worth $4,227,191 over the last 90 days. Company insiders own 0.66% of the company’s stock.

Red Hat Profile

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.

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

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