JOHNSON INVESTMENT COUNSEL INC recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Johnson Investment Counsel Inc. is an investment management firm based out of Cincinnati, Ohio. The company was originally established in 1965 by founder Timothy E. Johnson, who is still with the company today acting as its Chairman. Johnson Investment Counsel has grown from its inception to now have additional locations in Dayton and Columbus. The company now operates with 105 employees of which 58 are investment professionals. The firm conducts its research internally in order to make its investment decisions, utilizing a fundamental and quantitative methodology and a bottom up investment approach. Johnson Investment Counsel invests in the public equity and fixed income markets on a global scale, allocating its assets across the value and growth stocks of small to large cap companies and benchmarking its portfolios against the S&P 500 and Russell 3000 indices. The company has over $8.6 billion in total assets under management spread across over 8,300 accounts, all of which are discretionary accounts. Although its total number of accounts has been somewhat volatile in recent years, having once been as high as 9,300, its total assets under management has been increasing, growing significantly from under $4 billion in 2010 to well over twice that amount today. Johnson Investment Counsel invests most heavily in the finance sector, which alone makes up over a third of its total asset allocations, and also invests in the consumer staples, information technology, energy, industrials, consumer discretionary, and health care sectors, among other sectors to a lesser degree, in order of decreasing allocation. In the most recent quarter the company had a turnover rate of approximately 14%. The firm mainly caters to individuals, which alone makes up almost two thirds of its entire client base, and also caters to high net worth individuals, banks and thrifts, investment companies, charities, corporations, and others.
As of the latest 13F report, the guru’s equity portfolio contained 669 stocks valued at a total of $8,067,000,000. The top holdings were IVV(6.74%), AAPL(4.34%), and PG(4.30%).
According to GuruFocus data, these were JOHNSON INVESTMENT COUNSEL INC’s top five trades of the quarter.
Adobe Inc
The guru established a new position worth 206,757 shares in NAS:ADBE, giving the stock a 1.17% weight in the equity portfolio. Shares traded for an average price of $481.12 during the quarter.
On 05/11/2022, Adobe Inc traded for a price of $379.33 per share and a market cap of $179,896,949,000. The stock has returned -18.01% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Adobe Inc has a price-earnings ratio of 37.82, a price-book ratio of 13.05, a price-earnings-to-growth (PEG) ratio of 1.28, a EV-to-Ebitda ratio of 26.73 and a price-sales ratio of 11.31.
The price-to-GF Value ratio is 0.64, earning the stock a GF Value rank of 8.
Nordson Corp
During the quarter, JOHNSON INVESTMENT COUNSEL INC bought 234,107 shares of NAS:NDSN for a total holding of 242,935. The trade had a 0.66% impact on the equity portfolio. During the quarter, the stock traded for an average price of $229.91.
On 05/11/2022, Nordson Corp traded for a price of $207.92 per share and a market cap of $12,214,981,000. The stock has returned 0.81% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Nordson Corp has a price-earnings ratio of 24.88, a price-book ratio of 5.59, a price-earnings-to-growth (PEG) ratio of 6.22, a EV-to-Ebitda ratio of 17.17 and a price-sales ratio of 5.06.
The price-to-GF Value ratio is 0.94, earning the stock a GF Value rank of 7.
Walmart Inc
During the quarter, JOHNSON INVESTMENT COUNSEL INC bought 289,185 shares of NYSE:WMT for a total holding of 446,154. The trade had a 0.54% impact on the equity portfolio. During the quarter, the stock traded for an average price of $140.86.
On 05/11/2022, Walmart Inc traded for a price of $147.62 per share and a market cap of $409,740,418,000. The stock has returned 7.51% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Walmart Inc has a price-earnings ratio of 30.50, a price-book ratio of 4.94, a price-earnings-to-growth (PEG) ratio of 7.63, a EV-to-Ebitda ratio of 14.43 and a price-sales ratio of 0.73.
The price-to-GF Value ratio is 1.04, earning the stock a GF Value rank of 6.
McDonald's Corp
During the quarter, JOHNSON INVESTMENT COUNSEL INC bought 170,230 shares of NYSE:MCD for a total holding of 208,868. The trade had a 0.52% impact on the equity portfolio. During the quarter, the stock traded for an average price of $249.26.
On 05/11/2022, McDonald's Corp traded for a price of $244.43 per share and a market cap of $180,037,559,000. The stock has returned 5.87% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, McDonald's Corp has a price-earnings ratio of 25.71, a price-earnings-to-growth (PEG) ratio of 4.76, a EV-to-Ebitda ratio of 19.12 and a price-sales ratio of 7.67.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
PACCAR Inc
JOHNSON INVESTMENT COUNSEL INC reduced their investment in NAS:PCAR by 461,670 shares. The trade had a 0.51% impact on the equity portfolio. During the quarter, the stock traded for an average price of $91.64.
On 05/11/2022, PACCAR Inc traded for a price of $82.61 per share and a market cap of $28,903,875,000. The stock has returned -9.17% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, PACCAR Inc has a price-earnings ratio of 14.64, a price-book ratio of 2.38, a price-earnings-to-growth (PEG) ratio of 146.40, a EV-to-Ebitda ratio of 10.63 and a price-sales ratio of 1.21.
The price-to-GF Value ratio is 0.91, earning the stock a GF Value rank of 7.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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