Avantax Advisory Services Inc. Sells 1,172 Shares of ITT Inc. (NYSE:ITT)

Avantax Advisory Services Inc. lessened its position in shares of ITT Inc. (NYSE:ITTFree Report) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,663 shares of the conglomerate’s stock after selling 1,172 shares during the quarter. Avantax Advisory Services Inc.’s holdings in ITT were worth $1,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mcmillion Capital Management Inc. bought a new position in shares of ITT in the 2nd quarter valued at about $30,000. IFP Advisors Inc boosted its stake in ITT by 63.4% in the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 118 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in ITT during the 3rd quarter worth $34,000. KB Financial Partners LLC acquired a new position in shares of ITT in the 1st quarter valued at $36,000. Finally, Clearstead Advisors LLC boosted its position in shares of ITT by 81.7% in the 3rd quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock worth $54,000 after purchasing an additional 250 shares during the last quarter. 90.73% of the stock is currently owned by institutional investors and hedge funds.

ITT Price Performance

ITT opened at $125.74 on Thursday. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 1.63 and a beta of 1.44. The business’s 50-day moving average price is $117.63 and its two-hundred day moving average price is $105.88. ITT Inc. has a 1 year low of $75.82 and a 1 year high of $127.13.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a $0.319 dividend. This is a boost from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.01%. ITT’s payout ratio is presently 22.14%.

Wall Street Analyst Weigh In

ITT has been the subject of a number of recent analyst reports. Citigroup upped their price target on ITT from $122.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, December 11th. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus boosted their price target on shares of ITT from $122.00 to $131.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Bank of America raised ITT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, November 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $117.43.

Read Our Latest Research Report on ITT

Insiders Place Their Bets

In other news, SVP Ryan F. Flynn sold 2,500 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $113.44, for a total value of $283,600.00. Following the sale, the senior vice president now owns 14,047 shares of the company’s stock, valued at $1,593,491.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

ITT Company Profile

(Free Report)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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