Dakota Wealth Management Sells 740 Shares of ITT Inc. (NYSE:ITT)

Dakota Wealth Management cut its stake in shares of ITT Inc. (NYSE:ITT) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,245 shares of the conglomerate’s stock after selling 740 shares during the quarter. Dakota Wealth Management’s holdings in ITT were worth $1,178,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. M&T Bank Corp grew its stake in shares of ITT by 1.3% during 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 during the period. CIBC Asset Management Inc boosted its stake in ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares during the period. Round Rock Advisors LLC boosted its stake in ITT by 0.4% in the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after purchasing an additional 90 shares during the period. Tectonic Advisors LLC boosted its stake in ITT by 3.3% in the 3rd quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock worth $437,000 after purchasing an additional 93 shares during the period. Finally, AE Wealth Management LLC boosted its stake in ITT by 5.9% in the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after purchasing an additional 100 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Price Performance

ITT opened at $153.10 on Friday. ITT Inc. has a 12-month low of $118.58 and a 12-month high of $161.13. The business’s fifty day simple moving average is $149.40 and its 200-day simple moving average is $143.80. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.84 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter last year, the company earned $1.37 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, November 29th. ITT’s dividend payout ratio (DPR) is presently 21.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. TD Cowen upped their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Robert W. Baird decreased their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus increased their price target on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.25.

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.