Laurion Capital Management LP bought a new position in shares of ADT Inc (NYSE:ADT) in the third quarter, HoldingsChannel reports. The institutional investor bought 416,600 shares of the security and automation business’s stock, valued at approximately $3,912,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Channing Capital Management LLC grew its holdings in ADT by 18.3% during the third quarter. Channing Capital Management LLC now owns 1,021,729 shares of the security and automation business’s stock worth $9,594,000 after acquiring an additional 157,808 shares during the period. GAM Holding AG grew its holdings in ADT by 104.3% during the third quarter. GAM Holding AG now owns 47,048 shares of the security and automation business’s stock worth $442,000 after acquiring an additional 24,014 shares during the period. Tower Research Capital LLC TRC grew its holdings in ADT by 43.0% during the third quarter. Tower Research Capital LLC TRC now owns 27,773 shares of the security and automation business’s stock worth $261,000 after acquiring an additional 8,355 shares during the period. Allianz Asset Management GmbH acquired a new position in ADT during the third quarter worth about $1,092,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in ADT during the third quarter worth about $5,236,000. 98.21% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised ADT from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada assumed coverage on ADT in a research note on Monday, November 19th. They issued an “outperform” rating and a $12.00 price target on the stock. ValuEngine raised ADT from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Morgan Stanley set a $12.00 price target on ADT and gave the stock a “buy” rating in a research note on Thursday, November 8th. Finally, Bank of America assumed coverage on ADT in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $11.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $13.30.
ADT (NYSE:ADT) last announced its quarterly earnings data on Wednesday, November 7th. The security and automation business reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.28). ADT had a negative return on equity of 3.76% and a net margin of 3.95%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted ($0.09) earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that ADT Inc will post 0.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be given a dividend of $0.035 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 1.88%. ADT’s payout ratio is presently -40.00%.
ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of burglary, video, access control, fire and smoke alarm, and medical alert solutions to residential, commercial, and multi-site customers. The company primarily offers professionally monitored security solutions; and interactive home and business automation solutions that are designed to control access, react to movement, and sense carbon monoxide, flooding, and changes in temperature or other environmental conditions, as well as address personal emergencies, such as injuries, medical emergencies, or incapacitation.
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