Envestnet Asset Management Inc. Decreases Position in ITT Inc. (NYSE:ITT)

Envestnet Asset Management Inc. reduced its stake in shares of ITT Inc. (NYSE:ITT) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,651 shares of the conglomerate’s stock after selling 1,220 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of ITT worth $15,524,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stifel Financial Corp lifted its position in shares of ITT by 1.0% during the third quarter. Stifel Financial Corp now owns 21,455 shares of the conglomerate’s stock worth $3,208,000 after purchasing an additional 221 shares in the last quarter. MML Investors Services LLC increased its stake in ITT by 3.0% during the 3rd quarter. MML Investors Services LLC now owns 5,070 shares of the conglomerate’s stock worth $758,000 after buying an additional 150 shares during the period. M&T Bank Corp lifted its holdings in ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after buying an additional 69 shares in the last quarter. Sanctuary Advisors LLC boosted its position in ITT by 6.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate’s stock valued at $626,000 after buying an additional 225 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of ITT during the third quarter valued at about $64,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of ITT opened at $126.95 on Wednesday. The stock has a market capitalization of $10.28 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The business’s fifty day moving average price is $135.00 and its 200 day moving average price is $144.09. 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 12-month low of $105.64 and a 12-month high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings results 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%. Equities research 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 was paid on Monday, March 31st. Investors of record on Thursday, March 6th were paid a dividend of $0.351 per share. This is an increase 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%. The ex-dividend date was Thursday, March 6th. ITT’s dividend payout ratio is presently 22.22%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup reduced their price target on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a report on Monday. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. UBS Group raised 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. KeyCorp cut their price target on shares of ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Stifel Nicolaus reduced 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, ITT currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.57.

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.