Deltec Asset Management LLC Sells 781,946 Shares of ADT Inc (NYSE:ADT)

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Deltec Asset Management LLC trimmed its holdings in ADT Inc (NYSE:ADT) by 98.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the security and automation business’s stock after selling 781,946 shares during the quarter. Deltec Asset Management LLC’s holdings in ADT were worth $141,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Zweig DiMenna Associates LLC bought a new position in ADT in the 3rd quarter worth approximately $2,817,000. Russell Investments Group Ltd. boosted its holdings in shares of ADT by 45.0% in the second quarter. Russell Investments Group Ltd. now owns 496,921 shares of the security and automation business’s stock valued at $4,269,000 after acquiring an additional 154,171 shares in the last quarter. Verition Fund Management LLC bought a new position in ADT during the 2nd quarter valued at $885,000. Point72 Asset Management L.P. bought a new position in ADT during the 2nd quarter valued at $1,022,000. Finally, California Public Employees Retirement System bought a new position in ADT during the 1st quarter valued at $198,000. 99.84% of the stock is owned by institutional investors and hedge funds.

Shares of ADT stock traded down $0.25 during trading on Friday, hitting $7.85. 2,385,040 shares of the company were exchanged, compared to its average volume of 1,841,521. The stock has a market cap of $5.61 billion and a P/E ratio of -22.43. ADT Inc has a twelve month low of $6.93 and a twelve month high of $13.02. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.80 and a current ratio of 0.87.

ADT (NYSE:ADT) last announced its quarterly earnings results on Wednesday, November 7th. The security and automation business reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.28). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted ($0.09) EPS. ADT’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that ADT Inc will post 0.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 14th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.14 annualized dividend and a yield of 1.78%. ADT’s dividend payout ratio (DPR) is currently -40.00%.

A number of brokerages have issued reports on ADT. ValuEngine raised ADT from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research lowered shares of ADT from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Credit Suisse Group raised their target price on shares of ADT from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, September 21st. Barclays reduced their target price on shares of ADT from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 9th. Finally, Deutsche Bank began coverage on ADT in a research note on Monday, October 1st. They set a “hold” rating and a $11.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $13.70.

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About ADT

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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Institutional Ownership by Quarter for ADT (NYSE:ADT)

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