Hartford Investment Management Co. Trims Position in Marriott International, Inc. (NASDAQ:MAR)

Hartford Investment Management Co. reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,736 shares of the company’s stock after selling 666 shares during the quarter. Hartford Investment Management Co.’s holdings in Marriott International were worth $3,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MAR. Greenleaf Trust raised its position in Marriott International by 2.0% in the third quarter. Greenleaf Trust now owns 3,859 shares of the company’s stock valued at $959,000 after purchasing an additional 77 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in Marriott International by 31.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,620 shares of the company’s stock valued at $403,000 after buying an additional 387 shares during the period. Marietta Wealth Management LLC lifted its position in Marriott International by 5.5% in the third quarter. Marietta Wealth Management LLC now owns 18,874 shares of the company’s stock valued at $4,692,000 after buying an additional 985 shares during the last quarter. Segment Wealth Management LLC increased its position in shares of Marriott International by 1.9% during the third quarter. Segment Wealth Management LLC now owns 58,387 shares of the company’s stock valued at $14,515,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Accordant Advisory Group Inc purchased a new stake in shares of Marriott International in the 3rd quarter valued at approximately $174,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MAR shares. Sanford C. Bernstein upgraded shares of Marriott International from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $247.00 to $262.00 in a report on Thursday, August 29th. Morgan Stanley dropped their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group assumed coverage on Marriott International in a report on Wednesday, September 18th. They set a “buy” rating and a $267.00 target price for the company. Evercore ISI increased their price target on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on shares of Marriott International from $240.00 to $255.00 and gave the company a “market perform” rating in a report on Tuesday. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $256.39.

Marriott International Stock Performance

NASDAQ:MAR opened at $257.82 on Thursday. Marriott International, Inc. has a 1 year low of $180.75 and a 1 year high of $266.58. The stock has a market cap of $73.64 billion, a P/E ratio of 26.61, a P/E/G ratio of 6.15 and a beta of 1.59. The stock has a 50-day simple moving average of $241.75 and a 200-day simple moving average of $238.66.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter last year, the company earned $2.26 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s payout ratio is 26.01%.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.