We’re adding to three Club holdings: Buying 60 shares of Stanley Black & Decker (SWK) at roughly $83 each; 35 shares of Procter & Gamble (PG) at roughly $146 each; and six shares of Broadcom (AVGO) at roughly $828 each. Following Thursday’s trades, Jim Cramer’s Charitable Trust will own 685 shares of SWK, increasing its weighting in the portfolio to 2.04% from 1.86%; 550 shares of PG, increasing its weighting in the portfolio to 2.9% from 2.72%; and 73 shares of AVGO, increasing its weighting in the portfolio to 2.16% from 1.99%. As Wall Street gets ready to close the books on the third quarter and transition from a seasonally weak period of the stock market to a more favorable one, we’re putting money to work. The S & P 500 has declined nearly 7% from its 52-week high on July 31. While the index could always go lower, Jim’s trusted the S & P Short Range Oscillator hit 4.88% after Wednesday’s session — an oversold signal but nowhere near an extreme level. Still, we see opportunities worth taking advantage of in high quality companies. SWK YTD mountain Stanley Black & Decker YTD Starting with Stanley Black & Decker, we’re stepping back into the name following our purchase last week despite concern that high interest rates and resilient home list prices are severely hurting housing affordability. As noted in our prior buy alert , we feel comfortable with this housing-adjacent stock because we’re in it for its ability to turn things around after the bottom fell out after soaring Covid-related home renovation demand dried up. That’s the crucial factor because it means that while the top line may feel pressure as a result of the difficult operating environment, investors will reward the stock as management makes progress on streamlining the business, reducing costs and improving the supply chain and inventory situation. With a nearly 4% annual dividend yield, we’e being paid to be patient with a management team that has already demonstrated strong execution on their turnaround plan. We reiterate our 1 rating on the stock. PG YTD mountain Procter & Gamble YTD We previously sold 100 shares of Procter & Gamble at around $152 at the beginning of July . However, with shares down nearly 4% since then and nearly 7% off their recent high in August, we’re looking at this pullback as an opportunity to buy back a portion of those shares. This is generally our style when repurchasing shares sold higher. We like to step in and buy only a portion of what we sold in order to leave room for additional buys should further weakness ensue. While the economy has proven incredibly resilient thus far, the full impact of past Federal Reserve tightening and the path forward remains to be seen. P & G is safe bet during uncertain times because it sells products that people will prioritize, even when their wallets are feeling the pressure of high credit costs and high gas prices. We continue to see profitability improving as selling prices hold firm and input costs come down. With this purchase, we will upgrade shares back to a 1 rating. AVGO YTD mountain Broadcom Lastly, we’re stepping back in on Broadcom as shares appear to be stabilizing, having found support at a level slightly above $800. The stock has been under pressure ever since the company reported earnings at the end of August . It sold off on what was a good release but not enough to prevent profit-taking with shares at all-time highs. The stock took another hit on a report — which Alphabet (GOOGL) denied — that Google was considering ending its partnership with Broadcom to develop custom chips. As we see no in change in our thesis, still believing Broadcom to be a clear beneficiary of data center investments in artificial intelligence thanks to its cutting edge networking solutions, we see this recent bout of weakness as an opportunity increase our exposure while reducing our overall cost basis. (Jim Cramer’s Charitable Trust is long SWK, PG, AVGO, GOOGL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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