Transaction details
Horton D R Inc's Executive Vice President and Chief Operating Officer, Michael J. Murray, reported a sale of 120 shares of the company's common stock on May 3, 2024. The shares were sold at $148.969 each, yielding total proceeds of $17,876, according to the Form 4 filing. At the time of the report, the company's share price has moved to $164.96, an increase of about 11% since the sale.
Ownership and holdings
Following the transfer, the filing shows Murray continues to directly hold 122,495 shares of DHI common stock. In addition to direct ownership, he is listed as indirectly beneficial owner of 249,825 shares and indirectly holds 32,340 shares. The filing clarifies the structure of the indirect holdings: some shares are owned through a Limited Partnership controlled by Murray and his wife, while others are held in a Foundation controlled by Murray and members of his immediate family.
Nature of the sale
Footnotes attached to the Form 4 indicate the disposition was inadvertent. The filing states the sale was executed by the reporting person’s Individual Retirement Account without his knowledge. The company-level disclosure frames this as an isolated event rather than part of an active insider selling program.
Company context and financial snapshot
Data from InvestingPro cited in the filing materials places D.R. Horton with a market capitalization of $47.75 billion and notes the shares trade slightly above an assessed Fair Value. Additional metrics in the same data set identify a price-to-earnings ratio of 14.98 and a record of 12 consecutive years of dividend increases. InvestingPro characterizes D.R. Horton’s overall financial health as GOOD. The filing also contrasts the one-off insider sale with broader company actions, noting management has been actively repurchasing shares.
Recent earnings and analyst responses
In its first-quarter fiscal 2026 report, D.R. Horton delivered earnings per share of $2.03, topping analyst estimates of $1.93 and registering a 5.18% positive surprise. Despite the upside in EPS, the company reported declines in home sales revenues, a factor that has informed revisions to analyst forecasts and price targets.
Following the results, several firms adjusted targets and commentary. UBS increased its price objective to $193 and maintained a Buy rating, while also lowering earnings forecasts for future fiscal years on the basis of conservative margin assumptions. KBW trimmed its price target to $163, citing margin concerns, and kept a Market Perform rating. BofA Securities reduced its target to $158 and retained a Neutral rating despite the company beating both BofA’s and consensus earnings estimates. Evercore ISI moved its target to $169, reflecting the company’s earnings that exceeded their projections. These moves indicate a range of analyst views on D.R. Horton’s near-term margin trajectory and outlook.
Takeaway
The disclosed sale by Murray was small in dollar terms relative to his remaining holdings and to the company’s market capitalization, and the filing identifies it as an inadvertent transaction executed by his IRA. At the same time, the company’s underlying performance in the quarter produced an EPS beat but raised questions about revenue trends in home sales, prompting a mix of analyst reactions and adjusted price targets.