ITT Inc. (NYSE:ITT) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its stake in shares of ITT Inc. (NYSE:ITT) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,390 shares of the conglomerate’s stock after selling 923 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ITT were worth $1,105,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ITT. Lynx Investment Advisory purchased a new position in ITT during the second quarter worth about $27,000. Headlands Technologies LLC purchased a new position in ITT during the second quarter worth about $32,000. UMB Bank n.a. lifted its position in ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after buying an additional 180 shares during the period. Brown Brothers Harriman & Co. purchased a new position in ITT during the second quarter worth about $36,000. Finally, Quent Capital LLC lifted its position in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Robert W. Baird lowered their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen increased their target price on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their target price on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, KeyCorp increased their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $157.78.

ITT Price Performance

Shares of NYSE ITT opened at $141.26 on Tuesday. ITT Inc. has a fifty-two week low of $99.52 and a fifty-two week high of $153.99. The business has a 50 day moving average price of $142.94 and a two-hundred day moving average price of $136.34. The company has a quick ratio of 1.10, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $11.51 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. During the same quarter last year, the firm earned $1.37 EPS. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that ITT Inc. will post 5.82 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.90%. ITT’s payout ratio is 21.84%.

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.