ITT Inc. (NYSE:ITT) Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC lifted its stake in shares of ITT Inc. (NYSE:ITT) by 291.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 415 shares of the conglomerate’s stock after purchasing an additional 309 shares during the period. Smartleaf Asset Management LLC’s holdings in ITT were worth $59,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. SVB Wealth LLC acquired a new stake in shares of ITT during the fourth quarter worth $385,000. Proficio Capital Partners LLC acquired a new stake in shares of ITT during the fourth quarter worth $19,345,000. Oppenheimer Asset Management Inc. raised its position in shares of ITT by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock worth $1,641,000 after purchasing an additional 81 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of ITT during the fourth quarter worth $34,000. Finally, Bank of New York Mellon Corp raised its position in shares of ITT by 0.5% during the fourth 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 period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ITT shares. Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research 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 research report on Tuesday, January 21st. Finally, Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Performance

Shares of NYSE ITT opened at $135.00 on Tuesday. The business’s 50-day moving average price is $145.08 and its two-hundred day moving average price is $146.09. 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 Inc. has a one year low of $121.01 and a one year high of $161.13. The company has a market capitalization of $10.99 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last issued its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS 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%. Analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

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