Marriott International, Inc. $MAR Stock Holdings Lowered by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management cut its Marriott stake by 31.6% in the third quarter, selling 7,380 shares and retaining 15,970 shares valued at $5.68 million.
• Marriott CEO Anthony Capuano and EVP Benjamin Breland sold shares; company insiders sold 77,824 shares worth about $32.2 million over the past three months.
• Marriott beat quarterly estimates with EPS of $3.02 versus $2.84 expected, while revenue rose 8% year over year to $7 billion. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $399.04.

Lockheed Martin Investment Management Co. decreased its stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 31.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,970 shares of the company's stock after selling 7,380 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Marriott International were worth $5,680,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Valley National Advisers Inc. lifted its position in shares of Marriott International by 4,398.1% during the third quarter. Valley National Advisers Inc. now owns 7,017 shares of the company's stock worth $2,496,000 after purchasing an additional 6,861 shares in the last quarter. Integrity Alliance LLC. boosted its stake in shares of Marriott International by 375.1% in the third quarter. Integrity Alliance LLC. now owns 3,240 shares of the company's stock valued at $1,152,000 after purchasing an additional 2,558 shares during the period. Tidal Investments LLC grew its holdings in Marriott International by 62.5% during the 2nd quarter. Tidal Investments LLC now owns 34,640 shares of the company's stock valued at $12,837,000 after purchasing an additional 13,322 shares in the last quarter. VMS Asset Management Limited acquired a new stake in Marriott International during the 3rd quarter valued at $2,927,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in Marriott International during the 3rd quarter worth $1,249,000. Institutional investors and hedge funds own 70.70% of the company's stock.

Insider Activity

In related news, CEO Anthony Capuano sold 63,355 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $420.12, for a total transaction of $26,616,702.60. Following the sale, the chief executive officer owned 50,867 shares in the company, valued at $21,370,244.04. This represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Benjamin T. Breland sold 2,500 shares of Marriott International stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $423.32, for a total value of $1,058,300.00. Following the completion of the transaction, the executive vice president owned 23,899 shares of the company's stock, valued at approximately $10,116,924.68. The trade was a 9.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,824 shares of company stock valued at $32,243,110 over the last three months. Company insiders own 11.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on MAR shares. Morgan Stanley boosted their price objective on shares of Marriott International from $384.00 to $403.00 and gave the stock an "overweight" rating in a report on Thursday, October 22nd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Marriott International in a research report on Wednesday, November 4th. Wells Fargo & Company boosted their price target on Marriott International from $426.00 to $463.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 3rd. Stifel Nicolaus set a $402.00 price target on Marriott International in a report on Monday, November 2nd. Finally, Truist Financial raised their price objective on Marriott International from $356.00 to $360.00 and gave the company a "hold" rating in a research note on Thursday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $399.04.

Marriott International Price Performance

MAR opened at $417.16 on Tuesday. Marriott International, Inc. has a 12-month low of $280.99 and a 12-month high of $433.30. The stock has a market capitalization of $107.42 billion, a PE ratio of 41.63, a P/E/G ratio of 3.14 and a beta of 1.15. The firm's fifty day moving average price is $367.61 and its 200 day moving average price is $358.63.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $3.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.18. Marriott International had a net margin of 9.68% and a negative return on equity of 69.94%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Marriott International, Inc. will post 12.10 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.73 per share. The ex-dividend date is Thursday, November 19th. This represents a $2.92 annualized dividend and a yield of 0.7%. Marriott International's dividend payout ratio is presently 29.14%.

Marriott International Company Profile

Marriott International is a global lodging company that manages, franchises, and licenses hotels, resorts, and other accommodations. Its portfolio spans luxury, premium, select-service, and extended-stay brands, including The Ritz-Carlton, St. Regis, W Hotels, Marriott, Sheraton, Courtyard, Residence Inn, and Moxy.

The company traces its origins to a root beer stand opened by J. Willard and Alice Marriott in Washington, DC, in 1927. It entered the lodging business in the 1950s and is headquartered in Bethesda, Maryland.

Marriott serves travelers in countries and territories around the world and offers the Marriott Bonvoy loyalty program.

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