Marks Group Wealth Management Inc Sells 2,678 Shares of ITT Inc. (NYSE:ITT)

Marks Group Wealth Management Inc trimmed its position in shares of ITT Inc. (NYSE:ITT) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,416 shares of the conglomerate’s stock after selling 2,678 shares during the quarter. Marks Group Wealth Management Inc’s holdings in ITT were worth $8,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of ITT in the 2nd quarter worth about $489,000. CWM LLC grew its holdings in ITT by 191.4% in the third quarter. CWM LLC now owns 3,879 shares of the conglomerate’s stock worth $580,000 after purchasing an additional 2,548 shares during the period. UMB Bank n.a. increased its stake in shares of ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of ITT by 252.5% during the third quarter. Blue Trust Inc. now owns 1,491 shares of the conglomerate’s stock valued at $223,000 after purchasing an additional 1,068 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of ITT by 3.2% during the third quarter. Raymond James & Associates now owns 69,649 shares of the conglomerate’s stock valued at $10,413,000 after purchasing an additional 2,176 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of NYSE:ITT opened at $145.84 on Wednesday. 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 $11.89 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41. The business has a 50-day simple moving average of $147.47 and a two-hundred day simple moving average of $144.99. ITT Inc. has a fifty-two week low of $118.95 and a fifty-two week high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. On average, analysts expect that ITT Inc. will post 6.33 earnings per share for the current year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.96%. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT’s dividend payout ratio is presently 20.32%.

Analyst Ratings Changes

A number of research firms recently weighed in on ITT. Stifel Nicolaus reduced their price objective on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. KeyCorp increased their target price on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Citigroup lowered their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.