ADT (NYSE:ADT) Reaches New 52-Week High – Here’s Why

ADT Inc. (NYSE:ADT)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $8.39 and last traded at $8.38, with a volume of 15745288 shares changing hands. The stock had previously closed at $8.16.

Analyst Upgrades and Downgrades

ADT has been the subject of several research reports. Barclays raised ADT from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $7.00 to $9.00 in a research report on Friday. Morgan Stanley increased their price objective on ADT from $8.50 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $9.00 target price on shares of ADT in a report on Wednesday, January 29th.

ADT Stock Down 1.2 %

The company has a market cap of $6.99 billion, a P/E ratio of 8.67 and a beta of 1.58. The company’s 50-day moving average is $7.71 and its two-hundred day moving average is $7.41. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.81 and a quick ratio of 0.64.

ADT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, March 13th. ADT’s payout ratio is 41.51%.

Institutional Trading of ADT

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in ADT by 35.6% in the third quarter. Geode Capital Management LLC now owns 5,875,140 shares of the security and automation business’s stock valued at $42,487,000 after acquiring an additional 1,543,677 shares during the period. BNP Paribas Financial Markets increased its position in shares of ADT by 911.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 195,810 shares of the security and automation business’s stock valued at $1,416,000 after purchasing an additional 176,454 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ADT by 13.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,259,189 shares of the security and automation business’s stock worth $36,341,000 after purchasing an additional 609,842 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of ADT by 26.0% in the third quarter. JPMorgan Chase & Co. now owns 484,769 shares of the security and automation business’s stock worth $3,505,000 after buying an additional 100,134 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in ADT by 46.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 130,838 shares of the security and automation business’s stock valued at $904,000 after buying an additional 41,682 shares during the period. 87.22% of the stock is currently owned by institutional investors.

About ADT

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.