Proficio Capital Partners LLC Acquires Shares of 135,390 ITT Inc. (NYSE:ITT)

Proficio Capital Partners LLC acquired a new stake in ITT Inc. (NYSE:ITT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 135,390 shares of the conglomerate's stock, valued at approximately $19,345,000. Proficio Capital Partners LLC owned 0.17% of ITT at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Resources Management Corp CT ADV bought a new position in shares of ITT during the 3rd quarter worth $30,000. ORG Wealth Partners LLC bought a new position in shares of ITT during the 4th quarter worth $30,000. Whipplewood Advisors LLC bought a new position in shares of ITT during the 4th quarter worth $34,000. Private Trust Co. NA grew its stake 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 acquiring an additional 209 shares during the period. Finally, Coastline Trust Co bought a new position in shares of ITT during the 3rd quarter worth $48,000. Institutional investors own 91.59% of the company's stock.

ITT Stock Performance

NYSE:ITT traded down $2.52 during mid-day trading on Tuesday, hitting $134.40. 453,533 shares of the company traded hands, compared to its average volume of 386,498. The stock's fifty day moving average price is $144.16 and its 200-day moving average price is $145.95. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

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ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, March 6th. This is a boost from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio (DPR) is 22.22%.

Wall Street Analysts Forecast Growth

ITT has been the subject of several research reports. UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Stifel Nicolaus cut their price target on ITT from $180.00 to $179.00 and set a "buy" rating for the company in a research note on Friday, January 24th. KeyCorp increased their price target on ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Wolfe Research started coverage on ITT in a research note on Wednesday, December 11th. They issued a "peer perform" rating for the company. Finally, Citigroup cut their target price on ITT from $183.00 to $181.00 and set a "buy" rating for the company in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $168.38.

ITT Profile

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.