Marks Group Wealth Management Inc Sells 9,283 Shares of ITT Inc. $ITT

Marks Group Wealth Management Inc cut its position in ITT Inc. (NYSE:ITT) by 18.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 41,071 shares of the conglomerate’s stock after selling 9,283 shares during the quarter. Marks Group Wealth Management Inc’s holdings in ITT were worth $7,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in ITT during the fourth quarter valued at about $29,000. Bayban acquired a new position in shares of ITT during the fourth quarter worth approximately $31,000. Parkside Financial Bank & Trust boosted its position in shares of ITT by 62.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 76 shares during the period. Entrust Financial LLC bought a new stake in shares of ITT in the fourth quarter valued at approximately $36,000. Finally, Triumph Capital Management acquired a new stake in shares of ITT in the third quarter worth $37,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITT. The Goldman Sachs Group started coverage on shares of ITT in a research report on Tuesday, March 31st. They set a “buy” rating and a $270.00 target price on the stock. DA Davidson raised their price target on shares of ITT from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. KeyCorp boosted their price objective on shares of ITT from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings downgraded shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Finally, Wolfe Research upgraded shares of ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 target price for the company in a research note on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.42.

Insiders Place Their Bets

In other news, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $208.27, for a total value of $1,483,507.21. Following the completion of the sale, the insider directly owned 8,729 shares in the company, valued at approximately $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the completion of the sale, the chief accounting officer owned 7,859 shares of the company’s stock, valued at $1,637,894.19. The trade was a 2.48% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.88% of the company’s stock.

ITT Stock Down 0.4%

NYSE ITT opened at $194.06 on Thursday. The stock’s 50 day moving average is $194.32 and its two-hundred day moving average is $194.88. ITT Inc. has a 1-year low of $154.29 and a 1-year high of $225.26. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.83 and a beta of 1.27. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

ITT (NYSE:ITT) last issued its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.21. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.The business’s revenue was up 32.7% on a year-over-year basis. During the same period last year, the business earned $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Equities analysts forecast that ITT Inc. will post 7.91 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 8th were issued a dividend of $0.386 per share. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, June 8th. ITT’s dividend payout ratio (DPR) is currently 27.16%.

About ITT

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.