Norges Bank acquired a new stake in ADT Inc (NYSE:ADT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,727,170 shares of the security and automation business’s stock, valued at approximately $34,420,000.
Several other hedge funds have also added to or reduced their stakes in ADT. Acadian Asset Management LLC acquired a new stake in shares of ADT in the 4th quarter valued at $45,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of ADT in the 4th quarter valued at $60,000. Two Sigma Advisers LP acquired a new stake in shares of ADT in the 4th quarter valued at $61,000. Lourd Capital LLC acquired a new stake in shares of ADT in the 4th quarter valued at $67,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of ADT in the 4th quarter valued at $88,000. 98.12% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on ADT. ValuEngine lowered shares of ADT from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Citigroup lowered shares of ADT from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $13.00 to $8.25 in a research note on Tuesday, March 12th. Barclays reaffirmed a “buy” rating and issued a $10.00 price objective on shares of ADT in a research note on Wednesday, March 13th. Zacks Investment Research upgraded shares of ADT from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, Morgan Stanley set a $10.00 target price on shares of ADT and gave the stock a “buy” rating in a report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $11.03.
The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Tuesday, April 2nd were issued a $0.035 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.14 annualized dividend and a yield of 2.09%. ADT’s dividend payout ratio (DPR) is presently -87.50%.
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ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of fire detection, fire suppression, video surveillance, and access control systems to residential, commercial, and multi-site customers. The company primarily offers monitored security and automation solutions, including the installation and monitoring of security and premises automation systems designed to detect intrusion, control access, sense movement, smoke, fire, carbon monoxide, flooding, temperature, and other environmental conditions and hazards; and address personal emergencies such as injuries, medical emergencies, or incapacitation.
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