Mechanics Financial Corp Lowers Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Mechanics Financial Corp lowered its position in Marriott International, Inc. (NASDAQ:MAR) by 1.0% in the fourth quarter, HoldingsChannel reports. The fund owned 5,000 shares of the company’s stock after selling 52 shares during the quarter. Mechanics Financial Corp’s holdings in Marriott International were worth $1,395,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Marriott International in the fourth quarter valued at approximately $580,922,000. Charles Schwab Investment Management Inc. grew its stake in Marriott International by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,477,619 shares of the company’s stock valued at $412,167,000 after acquiring an additional 32,288 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Marriott International by 4.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,187 shares of the company’s stock worth $254,613,000 after acquiring an additional 46,563 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Marriott International by 8.4% during the third quarter. Janus Henderson Group PLC now owns 613,052 shares of the company’s stock valued at $152,399,000 after purchasing an additional 47,551 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Marriott International in the fourth quarter valued at about $165,162,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Argus raised their price target on shares of Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Mizuho raised their target price on Marriott International from $246.00 to $293.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. UBS Group increased their price objective on Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Truist Financial lowered their target price on shares of Marriott International from $308.00 to $300.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Marriott International has a consensus rating of “Hold” and an average target price of $286.05.

Marriott International Price Performance

NASDAQ MAR opened at $237.01 on Friday. The stock has a market capitalization of $65.34 billion, a P/E ratio of 28.49, a PEG ratio of 3.42 and a beta of 1.58. The firm’s 50-day moving average is $272.32 and its two-hundred day moving average is $270.31. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. As a group, analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s dividend payout ratio is currently 30.29%.

Insider Activity

In other Marriott International news, CFO Kathleen K. Oberg sold 14,498 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $278.07, for a total value of $4,031,458.86. Following the sale, the chief financial officer now directly owns 14,282 shares of the company’s stock, valued at approximately $3,971,395.74. This represents a 50.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider William P. Brown sold 12,642 shares of Marriott International stock in a transaction on Friday, February 21st. The stock was sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the sale, the insider now directly owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. This trade represents a 29.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,694 shares of company stock valued at $8,938,132. 12.32% of the stock is currently owned by company insiders.

Marriott International Company Profile

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.