ITT Inc. (NYSE:ITT) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its holdings in ITT Inc. (NYSE:ITT) by 2.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,863 shares of the conglomerate’s stock after selling 659 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ITT were worth $4,267,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ITT. Rialto Wealth Management LLC acquired a new position in ITT during the 4th quarter valued at approximately $26,000. Resources Management Corp CT ADV bought a new stake in ITT in the third quarter valued at $30,000. ORG Wealth Partners LLC acquired 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 worth about $34,000. Finally, Private Trust Co. NA increased its holdings in shares of ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock worth $45,000 after acquiring an additional 209 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ITT has been the subject of a number of analyst reports. Citigroup reduced their target price 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. Wolfe Research started coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating for the company. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus reduced their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, UBS Group raised 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. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.38.

ITT Stock Down 0.2 %

ITT opened at $134.83 on Monday. 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 $10.97 billion, a PE ratio of 21.40, a P/E/G ratio of 1.89 and a beta of 1.42. The stock’s fifty day moving average is $143.61 and its 200-day moving average is $145.93. ITT Inc. has a one year low of $121.01 and a one year 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 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%. On average, equities analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s dividend payout ratio (DPR) 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.