Envestnet Portfolio Solutions Inc. Sells 382 Shares of ITT Inc. (NYSE:ITT)

Envestnet Portfolio Solutions Inc. trimmed its stake in ITT Inc. (NYSE:ITT) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,002 shares of the conglomerate’s stock after selling 382 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in ITT were worth $858,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in shares of ITT during the fourth quarter valued at $26,000. Resources Management Corp CT ADV bought a new position in shares of ITT during the third quarter valued at $30,000. ORG Wealth Partners LLC bought a new position in shares of ITT during the fourth quarter valued at $30,000. Whipplewood Advisors LLC bought a new position in shares of ITT during the fourth quarter valued at $34,000. Finally, Private Trust Co. NA lifted its holdings in shares of ITT by 232.2% during the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 209 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Stock Performance

Shares of ITT opened at $134.83 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $143.61 and a two-hundred day simple moving average of $145.93. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.89 and a beta of 1.42. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business also recently declared 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 of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. ITT’s dividend payout ratio is presently 22.22%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. KeyCorp upped their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Stifel Nicolaus lowered their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Wolfe Research started coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.