Cortland Associates Inc. MO Cuts Position in ADT Inc. (NYSE:ADT)

Cortland Associates Inc. MO cut its position in ADT Inc. (NYSE:ADT) by 50.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 35,416 shares of the security and automation business’s stock after selling 35,416 shares during the period. Cortland Associates Inc. MO’s holdings in ADT were worth $256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in ADT in the second quarter valued at $26,000. Altshuler Shaham Ltd acquired a new stake in ADT in the second quarter valued at approximately $30,000. Duncker Streett & Co. Inc. acquired a new position in ADT during the 2nd quarter worth approximately $38,000. Abich Financial Wealth Management LLC purchased a new stake in shares of ADT in the 3rd quarter valued at approximately $70,000. Finally, Diversify Advisory Services LLC purchased a new stake in shares of ADT during the 2nd quarter worth $76,000. Hedge funds and other institutional investors own 87.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ADT shares. Royal Bank of Canada raised their price target on ADT from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group upped their price target on ADT from $8.20 to $9.20 and gave the company a “buy” rating in a report on Friday, October 25th.

ADT Stock Up 0.7 %

ADT stock opened at $7.25 on Monday. The stock has a 50-day simple moving average of $7.18 and a 200-day simple moving average of $7.21. The company has a market capitalization of $6.58 billion, a P/E ratio of 7.88 and a beta of 1.52. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.64 and a current ratio of 0.81. ADT Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $8.25.

ADT (NYSE:ADT) last posted its quarterly earnings data on Thursday, October 24th. The security and automation business reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. ADT had a return on equity of 17.77% and a net margin of 18.18%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that ADT Inc. will post 0.7 earnings per share for the current year.

ADT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.055 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.03%. ADT’s payout ratio is 23.91%.

ADT Profile

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.