Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management Co. reduced its stake in Marriott International by 41.2%, selling 17,800 shares, leaving it with 25,360 shares valued at approximately $6.04 million at the end of the first quarter.
• Marriott International has declared a quarterly dividend of $0.67 per share, representing a 1.0% yield, and plans to buy back 25 million shares, indicating the company's belief in its undervaluation.
• The stock has experienced fluctuations, with a current trading price of $259.92, a 12-month range between $205.40 and $307.52, and analysts maintaining a consensus rating of "Moderate Buy" with an average price target of $280.89.

Lockheed Martin Investment Management Co. lessened its stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 41.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,360 shares of the company's stock after selling 17,800 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Marriott International were worth $6,041,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MAR. 4J Wealth Management LLC boosted its stake in Marriott International by 3.6% during the first quarter. 4J Wealth Management LLC now owns 1,224 shares of the company's stock worth $292,000 after buying an additional 43 shares during the period. Obsidian Personal Planning Solutions LLC boosted its stake in Marriott International by 2.2% during the fourth quarter. Obsidian Personal Planning Solutions LLC now owns 2,019 shares of the company's stock worth $587,000 after buying an additional 44 shares during the period. Harbour Investments Inc. boosted its stake in Marriott International by 6.6% during the first quarter. Harbour Investments Inc. now owns 758 shares of the company's stock worth $180,000 after buying an additional 47 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Marriott International by 46.7% during the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after purchasing an additional 50 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its stake in shares of Marriott International by 3.4% during the first quarter. Rosenberg Matthew Hamilton now owns 1,529 shares of the company's stock valued at $364,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 70.70% of the company's stock.

Insiders Place Their Bets

In other Marriott International news, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the transaction, the chief executive officer owned 124,067 shares of the company's stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the transaction, the insider directly owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Marriott International in a research note on Monday, June 23rd. They set a "neutral" rating and a $284.00 target price for the company. Melius Research raised shares of Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Stifel Nicolaus lowered their target price on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Mizuho lowered their target price on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, BMO Capital Markets lowered their target price on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $280.89.

Marriott International Stock Up 1.8%

Shares of MAR traded up $4.69 during mid-day trading on Wednesday, hitting $269.70. 1,009,481 shares of the company traded hands, compared to its average volume of 1,718,780. Marriott International, Inc. has a 1-year low of $205.40 and a 1-year high of $307.52. The company has a market capitalization of $73.21 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.44. The business has a 50 day moving average of $268.73 and a 200 day moving average of $261.16.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting the consensus estimate of $2.65. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the prior year, the firm posted $2.50 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International declared that its board has authorized a stock repurchase plan on Thursday, August 7th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, August 21st will be paid a $0.67 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.0%. Marriott International's dividend payout ratio (DPR) is 30.21%.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.