Venturi Wealth Management LLC grew its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 880.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,156 shares of the conglomerate's stock after buying an additional 1,936 shares during the period. Venturi Wealth Management LLC's holdings in ITT were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in ITT in the third quarter worth $26,000. Resources Management Corp CT ADV bought a new stake in ITT in the third quarter worth $30,000. ORG Wealth Partners LLC bought a new stake in ITT in the fourth quarter worth $30,000. Private Trust Co. NA increased its position in ITT by 232.2% in the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate's stock worth $45,000 after purchasing an additional 209 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in ITT in the third quarter worth $48,000. Institutional investors own 91.59% of the company's stock.
ITT Stock Down 4.1 %
NYSE:ITT traded down $6.04 during mid-day trading on Friday, reaching $141.85. The company's stock had a trading volume of 572,938 shares, compared to its average volume of 385,233. ITT Inc. has a 1 year low of $121.01 and a 1 year high of $161.13. The stock has a fifty day moving average of $146.51 and a 200-day moving average of $145.37. The firm has a market capitalization of $11.55 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.91 and a beta of 1.41. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.
ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share 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 earnings per share for the current year.
ITT Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. 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 presently 20.32%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ITT shares. UBS Group boosted their price objective on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. TD Cowen boosted their price objective on shares of ITT from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Wolfe Research started coverage on shares of ITT in a research report on Wednesday, December 11th. They set a "peer perform" rating on the stock. Stifel Nicolaus cut their price objective on shares of ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Finally, Citigroup cut their price objective on shares of ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $168.38.
Read Our Latest Stock Analysis on ITT
About ITT
(
Free Report)
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.
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