Norges Bank Makes New Investment in ADT Inc. (NYSE:ADT)

Norges Bank acquired a new stake in ADT Inc. (NYSE:ADT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 22,261,031 shares of the security and automation business’s stock, valued at approximately $153,824,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADT. Vanguard Group Inc. lifted its position in ADT by 20.6% in the fourth 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. Pacer Advisors Inc. raised its stake in shares of ADT by 11.7% in the fourth quarter. Pacer Advisors Inc. now owns 34,574,011 shares of the security and automation business’s stock valued at $238,906,000 after acquiring an additional 3,632,502 shares during the period. State Street Corp lifted its holdings in shares of ADT by 7.5% in the 3rd quarter. State Street Corp now owns 6,597,684 shares of the security and automation business’s stock worth $48,060,000 after acquiring an additional 457,918 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ADT by 35.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,875,140 shares of the security and automation business’s stock worth $42,487,000 after purchasing an additional 1,543,677 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in ADT by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 5,464,151 shares of the security and automation business’s stock valued at $37,757,000 after purchasing an additional 961,785 shares during the last quarter. Hedge funds and other institutional investors own 87.22% of the company’s stock.

ADT Price Performance

NYSE ADT opened at $8.15 on Tuesday. The company has a market cap of $7.14 billion, a PE ratio of 8.85 and a beta of 1.58. The firm’s 50 day moving average price is $7.65 and its 200-day moving average price is $7.39. 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 52-week low of $6.10 and a 52-week high of $8.39.

ADT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Thursday, March 13th. ADT’s payout ratio is currently 41.51%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $9.00 target price on shares of ADT in a research note on Wednesday, January 29th. Morgan Stanley upped their target price on shares of ADT from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th.

About ADT

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.