ITT Inc. (NYSE:ITT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in ITT Inc. (NYSE:ITT) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,651 shares of the conglomerate’s stock after selling 1,220 shares during the quarter. Envestnet Asset Management Inc.’s holdings in ITT were worth $15,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in ITT during the 4th quarter valued at $26,000. ORG Wealth Partners LLC bought a new stake in ITT during the fourth quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new stake in ITT in the fourth quarter worth approximately $34,000. V Square Quantitative Management LLC increased its position in shares of ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after purchasing an additional 182 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of ITT by 291.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock worth $59,000 after buying an additional 309 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ITT. KeyCorp lowered their target price on ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus lowered their price objective on shares of ITT from $179.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday. Citigroup cut their target price on shares of ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research note on Monday. UBS Group lifted their price target on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.57.

ITT Stock Down 0.1 %

ITT stock opened at $126.95 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The firm has a market capitalization of $10.28 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.89 and a beta of 1.36. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.13. The company’s 50 day simple moving average is $135.00 and its 200-day simple moving average is $144.09.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were given a dividend of $0.351 per share. The ex-dividend date was Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.11%. ITT’s dividend payout ratio (DPR) is presently 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.