Marriott International, Inc. $MAR Stock Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. cut its position in Marriott International, Inc. (NASDAQ:MAR) by 31.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,970 shares of the company’s stock after selling 7,380 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Marriott International were worth $5,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MAR. Fairscale Capital LLC boosted its position in shares of Marriott International by 40.5% during the third quarter. Fairscale Capital LLC now owns 104 shares of the company’s stock worth $37,000 after buying an additional 30 shares during the period. AlphaCore Capital LLC grew its holdings in Marriott International by 6.5% in the 3rd quarter. AlphaCore Capital LLC now owns 14,930 shares of the company’s stock worth $5,310,000 after buying an additional 911 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Marriott International by 2.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,850 shares of the company’s stock valued at $4,204,000 after acquiring an additional 230 shares during the period. Beverly Hills Private Wealth LLC increased its position in Marriott International by 2.3% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 4,121 shares of the company’s stock valued at $1,466,000 after acquiring an additional 92 shares during the period. Finally, University of Texas Texas AM Investment Management Co. raised its stake in Marriott International by 83.4% during the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 266 shares of the company’s stock valued at $95,000 after acquiring an additional 121 shares in the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marriott International

In other news, CEO Anthony Capuano sold 63,355 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $420.12, for a total transaction of $26,616,702.60. Following the completion of the sale, the chief executive officer directly owned 50,867 shares of the company’s stock, valued at $21,370,244.04. This represents a 55.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Marriott sold 3,500 shares of the stock in a transaction on Friday, September 25th. The shares were sold at an average price of $352.09, for a total value of $1,232,315.00. Following the completion of the transaction, the insider owned 282,383 shares of the company’s stock, valued at $99,424,230.47. This trade represents a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 77,824 shares of company stock valued at $32,243,110 over the last 90 days. 11.43% of the stock is owned by insiders.

Marriott International Trading Up 0.2%

Shares of NASDAQ MAR opened at $417.16 on Tuesday. The firm has a 50-day moving average of $367.61 and a two-hundred day moving average of $358.63. Marriott International, Inc. has a twelve month low of $280.99 and a twelve month high of $433.30. The company has a market capitalization of $107.42 billion, a price-to-earnings ratio of 41.63, a PEG ratio of 3.14 and a beta of 1.15.

Marriott International (NASDAQ:MAR) last issued its earnings results on Monday, November 2nd. The company reported $3.02 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.18. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Marriott International had a net margin of 9.68% and a negative return on equity of 69.94%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $2.47 earnings per share. As a group, research analysts predict that Marriott International, Inc. will post 12.10 earnings per share for the current year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, November 19th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 0.7%. Marriott International’s payout ratio is 29.14%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MAR. Mizuho decreased their price target on Marriott International from $384.00 to $374.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Freedom Broker cut shares of Marriott International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 3rd. China Intl Cap raised shares of Marriott International to a “strong-buy” rating in a report on Wednesday, August 12th. Citigroup increased their price objective on shares of Marriott International from $365.00 to $450.00 and gave the company a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Marriott International from $388.00 to $406.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $399.04.

Marriott International Profile

Marriott International is a global lodging company that manages, franchises, and licenses hotels, resorts, and other accommodations. Its portfolio spans luxury, premium, select-service, and extended-stay brands, including The Ritz-Carlton, St. Regis, W Hotels, Marriott, Sheraton, Courtyard, Residence Inn, and Moxy.

The company traces its origins to a root beer stand opened by J. Willard and Alice Marriott in Washington, DC, in 1927. It entered the lodging business in the 1950s and is headquartered in Bethesda, Maryland.

Marriott serves travelers in countries and territories around the world and offers the Marriott Bonvoy loyalty program.