Assetmark Inc. Sells 87 Shares of ITT Inc. (NYSE:ITT)

Assetmark Inc. lessened its position in shares of ITT Inc. (NYSE:ITT) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 382 shares of the conglomerate’s stock after selling 87 shares during the period. Assetmark Inc.’s holdings in ITT were worth $55,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. KeyCorp boosted their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Wolfe Research assumed coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, UBS Group boosted their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, ITT has an average rating of “Moderate Buy” and an average target price of $168.38.

ITT Stock Performance

Shares of ITT stock opened at $135.12 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $144.29 and a two-hundred day moving average price of $145.89. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a market cap of $11.00 billion, a P/E ratio of 21.45, a PEG ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is 22.22%.

ITT Company 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.