ITT Inc. (NYSE:ITT) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in ITT Inc. (NYSE:ITT) by 34.2% during the fourth quarter, HoldingsChannel reports. The firm owned 10,718 shares of the conglomerate’s stock after selling 5,573 shares during the period. Corient Private Wealth LLC’s holdings in ITT were worth $1,531,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis Advisors LLC grew its holdings in shares of ITT by 1.7% during the fourth quarter. Natixis Advisors LLC now owns 71,488 shares of the conglomerate’s stock worth $10,214,000 after buying an additional 1,176 shares during the last quarter. Erste Asset Management GmbH grew its stake in shares of ITT by 10.6% in the 4th quarter. Erste Asset Management GmbH now owns 52,242 shares of the conglomerate’s stock valued at $7,466,000 after purchasing an additional 5,014 shares during the last quarter. Vestcor Inc acquired a new position in shares of ITT in the fourth quarter valued at approximately $675,000. EverSource Wealth Advisors LLC raised its stake in shares of ITT by 10.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock worth $183,000 after purchasing an additional 116 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of ITT by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 27,066 shares of the conglomerate’s stock worth $3,867,000 after purchasing an additional 1,462 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

NYSE ITT opened at $139.42 on Wednesday. The business has a 50 day moving average price of $143.53 and a 200 day moving average price of $146.07. The company has a market capitalization of $11.35 billion, a P/E ratio of 22.13, a PEG ratio of 1.89 and a beta of 1.42. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating 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%. Sell-side analysts expect 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. Shareholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is presently 22.22%.

Analyst Ratings Changes

Several brokerages have issued reports on ITT. Citigroup dropped their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wolfe Research began coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating for the company. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. KeyCorp increased their target price on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, UBS Group lifted their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.