Steward Partners Investment Advisory LLC Acquires 1,092 Shares of ITT Inc. (NYSE:ITT)

Steward Partners Investment Advisory LLC lifted its position in shares of ITT Inc. (NYSE:ITT) by 99.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,191 shares of the conglomerate’s stock after purchasing an additional 1,092 shares during the period. Steward Partners Investment Advisory LLC’s holdings in ITT were worth $313,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. M&T Bank Corp raised its position in ITT by 1.3% in the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after acquiring an additional 69 shares during the period. Oppenheimer Asset Management Inc. grew its stake in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock worth $1,641,000 after buying an additional 81 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after acquiring an additional 87 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in shares of ITT by 4.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after acquiring an additional 123 shares during the last quarter. Finally, Savant Capital LLC raised its holdings in ITT by 3.5% during the 4th quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate’s stock valued at $583,000 after buying an additional 137 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ITT. Stifel Nicolaus lowered their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. UBS Group upped their target price on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Citigroup lowered 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. Finally, Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. 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, ITT has a consensus rating of “Moderate Buy” and an average target price of $168.38.

ITT Trading Down 2.0 %

Shares of ITT opened at $129.73 on Friday. 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 1 year low of $121.01 and a 1 year high of $161.13. The company has a 50 day simple moving average of $144.69 and a two-hundred day simple moving average of $145.96. The firm has a market cap of $10.56 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last posted its 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 net margin of 14.27% and a return on equity of 18.03%. On average, equities analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed 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. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. 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.