Marks Group Wealth Management Inc Reduces Stock Position in ITT Inc. (NYSE:ITT)

Marks Group Wealth Management Inc reduced its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,416 shares of the conglomerate's stock after selling 2,678 shares during the period. Marks Group Wealth Management Inc owned 0.08% of ITT worth $8,775,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of ITT during the 3rd quarter worth approximately $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new position in shares of ITT during the 4th quarter worth approximately $30,000. UMB Bank n.a. boosted its holdings in shares of ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate's stock worth $35,000 after purchasing an additional 180 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in shares of ITT by 232.2% during the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate's stock worth $45,000 after purchasing an additional 209 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Down 0.2 %

Shares of ITT stock traded down $0.37 during trading hours on Friday, reaching $147.58. 331,974 shares of the company were exchanged, compared to its average volume of 353,160. ITT Inc. has a 1 year low of $121.01 and a 1 year high of $161.13. The stock's fifty day moving average is $146.88 and its 200 day moving average is $145.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.40. The firm has a market cap of $12.03 billion, a PE ratio of 23.43, a PEG ratio of 1.80 and a beta of 1.41.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, equities research analysts forecast that ITT Inc. will post 6.33 earnings per share for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio is currently 20.32%.

Wall Street Analysts Forecast Growth

ITT has been the topic of a number of recent analyst reports. Citigroup decreased their price objective on ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a report on Monday, January 13th. UBS Group upped their price objective on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 7th. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a report on Thursday. Stifel Nicolaus decreased their price objective on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Finally, Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $168.38.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.