Norges Bank purchased a new position in ADT Inc. (NYSE:ADT – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,915,277 shares of the security and automation business’s stock, valued at approximately $192,996,000.
A number of other institutional investors also recently bought and sold shares of ADT. AQR Capital Management LLC raised its stake in ADT by 124.6% in the third quarter. AQR Capital Management LLC now owns 36,160,099 shares of the security and automation business’s stock worth $314,954,000 after buying an additional 20,062,625 shares in the last quarter. Vanguard Group Inc. raised its stake in ADT by 42.7% in the third quarter. Vanguard Group Inc. now owns 64,858,510 shares of the security and automation business’s stock worth $564,918,000 after buying an additional 19,413,112 shares in the last quarter. Zimmer Partners LP boosted its holdings in shares of ADT by 164.8% during the 3rd quarter. Zimmer Partners LP now owns 8,077,811 shares of the security and automation business’s stock valued at $70,358,000 after buying an additional 5,026,754 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of ADT by 275.6% during the 3rd quarter. Two Sigma Investments LP now owns 5,483,043 shares of the security and automation business’s stock valued at $47,757,000 after buying an additional 4,023,072 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of ADT by 27.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 17,476,972 shares of the security and automation business’s stock valued at $152,224,000 after buying an additional 3,783,455 shares in the last quarter. 87.22% of the stock is owned by institutional investors.
ADT Price Performance
Shares of ADT opened at $6.66 on Thursday. The company has a market capitalization of $5.27 billion, a P/E ratio of 9.51 and a beta of 1.01. The company has a quick ratio of 0.67, a current ratio of 0.84 and a debt-to-equity ratio of 1.94. The firm has a 50 day moving average of $6.89 and a 200 day moving average of $7.48. ADT Inc. has a twelve month low of $6.25 and a twelve month high of $8.94.
ADT Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 11th will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, June 11th. ADT’s payout ratio is 31.43%.
Insider Activity at ADT
In related news, EVP Fawad Ahmad bought 7,500 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $6.75 per share, with a total value of $50,625.00. Following the transaction, the executive vice president owned 302,334 shares in the company, valued at approximately $2,040,754.50. This trade represents a 2.54% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Joseph Houston bought 36,450 shares of the business’s stock in a transaction on Friday, May 8th. The stock was bought at an average cost of $6.87 per share, with a total value of $250,411.50. Following the transaction, the director owned 74,812 shares in the company, valued at $513,958.44. This trade represents a 95.02% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 54,855 shares of company stock worth $376,172. Company insiders own 3.00% of the company’s stock.
Analyst Ratings Changes
ADT has been the topic of a number of research reports. Citigroup dropped their target price on shares of ADT from $10.00 to $8.50 and set a “buy” rating on the stock in a report on Wednesday, March 4th. UBS Group set a $7.50 target price on shares of ADT in a report on Friday, May 1st. Barclays reaffirmed an “underweight” rating and set a $7.00 target price on shares of ADT in a research note on Friday, March 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $10.40 target price on shares of ADT in a research note on Monday, March 2nd. Finally, Zacks Research raised shares of ADT from a “strong sell” rating to a “hold” rating in a research note on Monday, February 16th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.08.
ADT Profile
ADT Inc is a leading provider of security and automation solutions for residential and commercial customers. The company offers a comprehensive suite of products and services, including intrusion detection systems, video surveillance, fire and carbon monoxide monitoring, and integrated smart home automation platforms. Through professional installation, continuous monitoring, and a network of 24/7 monitoring centers, ADT helps customers protect their properties, assets and loved ones.
Founded in 1874 as the American District Telegraph Company, ADT has evolved from one of the first telegraph-based alarm services into a modern security technology enterprise.
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