Congress Wealth Management LLC DE Sells 13,010 Shares of ITT Inc. (NYSE:ITT)

Congress Wealth Management LLC DE lowered its position in ITT Inc. (NYSE:ITT - Free Report) by 57.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,535 shares of the conglomerate's stock after selling 13,010 shares during the period. Congress Wealth Management LLC DE's holdings in ITT were worth $1,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITT. M&T Bank Corp increased its holdings in shares of ITT by 1.3% in 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 in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of ITT by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock worth $1,641,000 after acquiring an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of ITT by 10.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock valued at $183,000 after acquiring an additional 116 shares during the period. Tectonic Advisors LLC boosted its holdings in ITT by 4.2% in the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock valued at $435,000 after acquiring an additional 123 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in ITT by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate's stock worth $362,000 after purchasing an additional 125 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Remove Ads

ITT Stock Up 1.6 %

Shares of ITT stock traded up $2.04 during trading on Tuesday, reaching $131.20. The stock had a trading volume of 758,688 shares, compared to its average volume of 406,446. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.89 and a beta of 1.42. The stock has a fifty day moving average price of $141.74 and a two-hundred day moving average price of $146.05. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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%. Sell-side analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.07%. This is an increase from ITT's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 6th. ITT's dividend payout ratio (DPR) is currently 22.22%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ITT. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Citigroup dropped their price objective on ITT from $183.00 to $181.00 and set a "buy" rating for the company in a report on Monday, January 13th. Wolfe Research initiated coverage on shares of ITT in a research report on Wednesday, December 11th. They set a "peer perform" rating on the stock. Stifel Nicolaus reduced their target price on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Finally, KeyCorp increased their price target on ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $170.29.

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.