Wealth Enhancement Advisory Services LLC Acquires 216 Shares of ITT Inc. (NYSE:ITT)

Wealth Enhancement Advisory Services LLC raised its holdings in ITT Inc. (NYSE:ITT) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,606 shares of the conglomerate’s stock after purchasing an additional 216 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ITT were worth $1,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC raised its holdings in ITT by 2.7% during the 2nd quarter. Private Advisor Group LLC now owns 4,608 shares of the conglomerate’s stock valued at $595,000 after acquiring an additional 122 shares during the period. Headlands Technologies LLC purchased a new position in shares of ITT in the second quarter valued at $32,000. American Century Companies Inc. raised its stake in shares of ITT by 28.5% during the 2nd quarter. American Century Companies Inc. now owns 50,675 shares of the conglomerate’s stock valued at $6,546,000 after purchasing an additional 11,236 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in ITT by 14.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,562 shares of the conglomerate’s stock worth $1,494,000 after purchasing an additional 1,468 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in ITT by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 107,472 shares of the conglomerate’s stock worth $13,883,000 after purchasing an additional 2,705 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT stock opened at $145.39 on Thursday. ITT Inc. has a fifty-two week low of $116.59 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a market cap of $11.85 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. The firm’s fifty day moving average price is $149.68 and its 200-day moving average price is $142.86.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter last year, the business posted $1.37 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a $0.319 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.88%. ITT’s payout ratio is 21.67%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ITT shares. Wolfe Research assumed coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Robert W. Baird decreased their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup decreased their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday. Finally, TD Cowen increased their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.50.

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.