Marks Group Wealth Management Inc Raises Stake in ITT Inc. (NYSE:ITT)

Marks Group Wealth Management Inc lifted its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,780 shares of the conglomerate's stock after buying an additional 2,364 shares during the period. Marks Group Wealth Management Inc owned about 0.08% of ITT worth $8,238,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CWM LLC increased its holdings in ITT by 55.3% in the 1st quarter. CWM LLC now owns 6,741 shares of the conglomerate's stock worth $871,000 after purchasing an additional 2,401 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of ITT by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the conglomerate's stock worth $2,945,000 after purchasing an additional 200 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of ITT by 4.8% during the first quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate's stock worth $254,000 after purchasing an additional 90 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of ITT by 1.5% in the first quarter. New York State Common Retirement Fund now owns 47,703 shares of the conglomerate's stock valued at $6,161,000 after buying an additional 700 shares during the period. Finally, Ballentine Partners LLC raised its holdings in ITT by 9.8% in the 1st quarter. Ballentine Partners LLC now owns 1,630 shares of the conglomerate's stock valued at $211,000 after buying an additional 146 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ITT shares. Bank of America raised their price target on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group increased their price target on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Stifel Nicolaus raised their price objective on ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research note on Friday, May 16th. KeyCorp upped their target price on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.50.

ITT Trading Up 0.2%

Shares of NYSE:ITT traded up $0.38 during mid-day trading on Friday, hitting $157.94. 374,809 shares of the company traded hands, compared to its average volume of 459,145. The stock has a 50-day moving average price of $152.08 and a two-hundred day moving average price of $143.26. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.79. The stock has a market cap of $12.43 billion, a P/E ratio of 25.11, a P/E/G ratio of 2.00 and a beta of 1.35.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.01. ITT had a net margin of 14.19% and a return on equity of 17.75%. The firm had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. During the same period in the previous year, the firm earned $1.42 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Monday, June 2nd. ITT's dividend payout ratio is presently 22.26%.

ITT Company 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.