Cerity Partners LLC Sells 2,988 Shares of ITT Inc. (NYSE:ITT)

Cerity Partners LLC cut its position in ITT Inc. (NYSE:ITT - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,973 shares of the conglomerate's stock after selling 2,988 shares during the period. Cerity Partners LLC owned 0.07% of ITT worth $8,021,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp increased its stake in ITT by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 21,455 shares of the conglomerate's stock valued at $3,208,000 after purchasing an additional 221 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of ITT during the third quarter worth about $371,000. MML Investors Services LLC raised its holdings in shares of ITT by 3.0% in the 3rd quarter. MML Investors Services LLC now owns 5,070 shares of the conglomerate's stock worth $758,000 after acquiring an additional 150 shares during the last quarter. M&T Bank Corp lifted its position in ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate's stock valued at $797,000 after acquiring an additional 69 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate's stock valued at $204,736,000 after purchasing an additional 8,223 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ITT has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on ITT from $179.00 to $148.00 and set a "buy" rating for the company in a research note on Monday. Citigroup lowered their price target on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research report on Monday. KeyCorp cut their price objective 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. UBS Group increased their target price on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.57.

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ITT Stock Performance

ITT traded down $0.24 during midday trading on Wednesday, reaching $126.68. The company had a trading volume of 689,895 shares, compared to its average volume of 432,337. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The business has a 50-day moving average price of $135.00 and a two-hundred day moving average price of $144.09. The stock has a market cap of $10.26 billion, a PE ratio of 20.11, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio (DPR) is currently 22.22%.

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.