B. Riley Wealth Advisors Inc. Reduces Position in ITT Inc. (NYSE:ITT)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,572 shares of the conglomerate’s stock after selling 144 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in ITT were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital International Investors boosted its stake in shares of ITT by 0.3% during the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock worth $1,123,533,000 after acquiring an additional 29,057 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of ITT by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after buying an additional 65,173 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of ITT by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock valued at $132,581,000 after buying an additional 14,857 shares in the last quarter. Norges Bank purchased a new position in shares of ITT during the 4th quarter valued at $102,709,000. Finally, Fiduciary Management Inc. WI lifted its stake in shares of ITT by 3.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 742,571 shares of the conglomerate’s stock valued at $88,604,000 after buying an additional 27,210 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

ITT has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. KeyCorp lifted their target price on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Stifel Nicolaus boosted their price target on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. DA Davidson boosted their price target on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Finally, Citigroup boosted their price target on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT presently has a consensus rating of “Buy” and an average price target of $138.38.

ITT Stock Performance

ITT stock opened at $127.45 on Thursday. The company’s 50-day moving average price is $131.77 and its 200-day moving average price is $126.58. ITT Inc. has a twelve month low of $88.39 and a twelve month high of $140.20. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a market cap of $10.49 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.67 and a beta of 1.44.

ITT (NYSE:ITT) last posted its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. During the same period in the previous year, the firm posted $1.17 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that ITT Inc. will post 5.85 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.319 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 1.00%. ITT’s payout ratio is 24.90%.

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.