Patten Group Inc. Sells 113 Shares of Marriott International, Inc. (NASDAQ:MAR)

Patten Group Inc. lowered its stake in Marriott International, Inc. (NASDAQ:MAR) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,250 shares of the company’s stock after selling 113 shares during the quarter. Patten Group Inc.’s holdings in Marriott International were worth $2,301,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its position in Marriott International by 3.6% during the third quarter. Farther Finance Advisors LLC now owns 2,621 shares of the company’s stock valued at $652,000 after acquiring an additional 92 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Marriott International by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,698 shares of the company’s stock valued at $2,162,000 after purchasing an additional 38 shares during the last quarter. Lansing Street Advisors purchased a new position in shares of Marriott International in the third quarter worth approximately $208,000. Robeco Institutional Asset Management B.V. grew its position in Marriott International by 4.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 37,809 shares of the company’s stock valued at $9,399,000 after buying an additional 1,645 shares during the period. Finally, Old North State Wealth Management LLC increased its holdings in Marriott International by 4.5% during the third quarter. Old North State Wealth Management LLC now owns 5,838 shares of the company’s stock valued at $1,451,000 after buying an additional 250 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. UBS Group upped their price target on Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Robert W. Baird lifted their price objective on Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. BMO Capital Markets increased their target price on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Sanford C. Bernstein lifted their price target on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marriott International currently has an average rating of “Hold” and a consensus target price of $284.05.

Insider Activity

In other news, EVP Rena Hozore Reiss sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the transaction, the executive vice president now owns 24,733 shares of the company’s stock, valued at approximately $7,089,714.45. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kathleen K. Oberg sold 14,498 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 14,282 shares of the company’s stock, valued at approximately $3,971,395.74. The trade was a 50.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock valued at $8,938,132 in the last ninety days. Insiders own 12.32% of the company’s stock.

Marriott International Price Performance

NASDAQ MAR opened at $277.72 on Tuesday. The stock has a market capitalization of $76.57 billion, a PE ratio of 33.38, a P/E/G ratio of 3.42 and a beta of 1.57. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The business has a 50 day simple moving average of $283.08 and a two-hundred day simple moving average of $268.04.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share 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%. On average, analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 0.91%. Marriott International’s payout ratio is currently 30.29%.

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.