Independent Advisor Alliance Grows Stock Holdings in ITT Inc. (NYSE:ITT)

Independent Advisor Alliance grew its holdings in shares of ITT Inc. (NYSE:ITT) by 20.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,684 shares of the conglomerate’s stock after purchasing an additional 461 shares during the period. Independent Advisor Alliance’s holdings in ITT were worth $384,000 as of its most recent SEC filing.

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

ITT Trading Up 1.4 %

NYSE:ITT opened at $136.79 on Tuesday. 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 $11.13 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The business has a fifty day moving average price of $144.16 and a 200-day moving average price of $145.95.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Sell-side analysts forecast 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 paid a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.03%. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s dividend payout ratio is 22.22%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ITT. KeyCorp upped their price objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. UBS Group upped their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Wolfe Research began coverage on ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Finally, StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.38.

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.