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

Congress Wealth Management LLC DE trimmed its stake in ITT Inc. (NYSE:ITT) by 57.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.

Other large investors have also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in ITT in the fourth quarter worth $26,000. Resources Management Corp CT ADV purchased a new stake in shares of ITT in the third quarter valued at $30,000. ORG Wealth Partners LLC bought a new stake in shares of ITT in the 4th quarter worth about $30,000. Whipplewood Advisors LLC purchased a new position in shares of ITT during the 4th quarter worth about $34,000. Finally, Private Trust Co. NA grew its holdings in ITT by 232.2% during the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Trading Down 2.7 %

Shares of NYSE:ITT opened at $134.26 on Friday. The company has a market capitalization of $10.93 billion, a PE ratio of 21.31, a P/E/G ratio of 1.89 and a beta of 1.42. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13. The business’s fifty day simple moving average is $143.08 and its 200-day simple moving average is $145.93.

ITT (NYSE:ITT) last issued its quarterly earnings data 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%. As a group, equities research analysts predict 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 will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 1.05%. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s payout ratio is 22.22%.

Analyst Ratings Changes

Several brokerages have issued reports on ITT. UBS Group boosted their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Citigroup decreased their target price on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. KeyCorp upped their price target on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $170.29.

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.