Assetmark Inc. Sells 87 Shares of ITT Inc. (NYSE:ITT)

Assetmark Inc. lowered its position in shares of ITT Inc. (NYSE:ITT) by 18.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 382 shares of the conglomerate’s stock after selling 87 shares during the quarter. Assetmark Inc.’s holdings in ITT were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in shares of ITT by 1.1% during the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after buying an additional 26,133 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after purchasing an additional 8,223 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ITT by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock worth $108,817,000 after purchasing an additional 3,727 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after purchasing an additional 27,885 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of ITT by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock worth $73,913,000 after purchasing an additional 3,424 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITT. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. KeyCorp lifted their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Citigroup reduced their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus reduced their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Performance

NYSE ITT opened at $135.12 on Friday. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market capitalization of $11.00 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.89 and a beta of 1.42. The company has a fifty day moving average of $144.29 and a 200-day moving average of $145.89.

ITT (NYSE:ITT) last posted 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 net margin of 14.27% and a return on equity of 18.03%. As a group, equities research analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a $0.351 dividend. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. ITT’s payout ratio is presently 22.22%.

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.