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Pacer Advisors Inc. Trims Stock Position in ADT Inc. (NYSE:ADT)

ADT logo with Industrials background

Key Points

  • Pacer Advisors Inc. significantly reduced its stake in ADT Inc. by 80.4%, owning 6,783,000 shares after selling over 27 million shares in the first quarter.
  • Vanguard Group Inc. and several other institutional investors increased their holdings in ADT during the fourth quarter, with Vanguard acquiring an additional 7.6 million shares.
  • Barclays upgraded ADT’s rating from "underweight" to "equal weight" and raised the price target from $7.00 to $9.00 in recent analyst coverage.
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Pacer Advisors Inc. lessened its holdings in ADT Inc. (NYSE:ADT - Free Report) by 80.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,782,999 shares of the security and automation business's stock after selling 27,791,012 shares during the period. Pacer Advisors Inc. owned 0.77% of ADT worth $55,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of ADT during the 4th quarter worth $153,824,000. Vanguard Group Inc. grew its stake in shares of ADT by 20.6% in the 4th quarter. Vanguard Group Inc. now owns 44,555,115 shares of the security and automation business's stock worth $307,876,000 after buying an additional 7,610,709 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of ADT during the fourth quarter valued at approximately $48,687,000. Dimensional Fund Advisors LP grew its stake in shares of ADT by 31.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 21,453,811 shares of the security and automation business's stock valued at $148,246,000 after purchasing an additional 5,089,056 shares during the period. Finally, Victory Capital Management Inc. increased its position in ADT by 1,647.8% in the first quarter. Victory Capital Management Inc. now owns 3,346,949 shares of the security and automation business's stock worth $27,244,000 after buying an additional 3,155,454 shares in the last quarter. Institutional investors and hedge funds own 87.22% of the company's stock.

ADT Stock Performance

NYSE:ADT traded up $0.03 during trading hours on Wednesday, hitting $8.37. 1,738,901 shares of the company traded hands, compared to its average volume of 15,335,262. ADT Inc. has a twelve month low of $6.53 and a twelve month high of $8.80. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 12.67 and a beta of 1.21. The company has a current ratio of 0.46, a quick ratio of 0.37 and a debt-to-equity ratio of 1.84. The firm has a 50-day moving average of $8.37 and a 200 day moving average of $7.99.

ADT (NYSE:ADT - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The security and automation business reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ADT had a return on equity of 18.58% and a net margin of 12.30%. ADT's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. On average, analysts forecast that ADT Inc. will post 0.7 EPS for the current year.

ADT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be issued a dividend of $0.055 per share. The ex-dividend date is Thursday, September 11th. This represents a $0.22 dividend on an annualized basis and a yield of 2.63%. ADT's dividend payout ratio is currently 33.33%.

Insider Buying and Selling at ADT

In other ADT news, major shareholder Apollo Management Holdings Gp, sold 50,000,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $401,000,000.00. Following the transaction, the insider owned 228,650,366 shares in the company, valued at approximately $1,833,775,935.32. This represents a 17.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays raised shares of ADT from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $7.00 to $9.00 in a research report on Friday, April 4th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $9.00 target price on shares of ADT in a research note on Monday, April 21st. Finally, Morgan Stanley set a $9.50 price target on ADT and gave the stock an "equal weight" rating in a report on Monday.

Check Out Our Latest Analysis on ADT

ADT Profile

(Free Report)

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.

See Also

Institutional Ownership by Quarter for ADT (NYSE:ADT)

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