PNC Financial Services Group Inc. Boosts Stock Position in Marriott International, Inc. (NASDAQ:MAR)

PNC Financial Services Group Inc. lifted its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 3.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 443,103 shares of the company's stock after buying an additional 12,702 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.16% of Marriott International worth $110,156,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Bangor Savings Bank lifted its stake in Marriott International by 131.1% in the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company's stock worth $25,000 after purchasing an additional 59 shares in the last quarter. Hantz Financial Services Inc. bought a new position in Marriott International during the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new stake in Marriott International in the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC purchased a new stake in shares of Marriott International during the 3rd quarter worth approximately $31,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Marriott International in the second quarter valued at $35,000. Institutional investors own 70.70% of the company's stock.

Analysts Set New Price Targets

MAR has been the subject of several research reports. Sanford C. Bernstein increased their price objective on shares of Marriott International from $262.00 to $290.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Morgan Stanley dropped their price target on Marriott International from $268.00 to $250.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. TD Cowen decreased their price objective on Marriott International from $295.00 to $283.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group started coverage on Marriott International in a research report on Wednesday, September 18th. They set a "buy" rating and a $267.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Marriott International from $238.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $259.00.

Insider Buying and Selling at Marriott International

In other news, EVP Benjamin T. Breland sold 500 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now directly owns 12,286 shares of the company's stock, valued at $3,372,384.14. The trade was a 3.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathleen K. Oberg sold 2,360 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $285.41, for a total value of $673,567.60. Following the completion of the transaction, the chief financial officer now owns 39,726 shares of the company's stock, valued at $11,338,197.66. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,108 shares of company stock worth $3,434,439 over the last quarter. Insiders own 10.07% of the company's stock.

Marriott International Trading Up 0.3 %

Shares of MAR traded up $0.91 during midday trading on Wednesday, reaching $280.18. 908,163 shares of the stock were exchanged, compared to its average volume of 1,470,613. The company's 50 day moving average is $259.78 and its two-hundred day moving average is $242.73. The company has a market capitalization of $77.86 billion, a P/E ratio of 29.31, a PEG ratio of 5.48 and a beta of 1.58. Marriott International, Inc. has a 52 week low of $200.94 and a 52 week high of $289.04.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.05). The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.11 EPS. On average, sell-side analysts expect that Marriott International, Inc. will post 9.26 EPS for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International's payout ratio is currently 26.36%.

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.