Venturi Wealth Management LLC Increases Stake in ITT Inc. (NYSE:ITT)

Venturi Wealth Management LLC grew its position in ITT Inc. (NYSE:ITT) by 880.0% in the 4th quarter, according to its most recent disclosure with the 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 SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in ITT by 252.5% in the 3rd quarter. Blue Trust Inc. now owns 1,491 shares of the conglomerate’s stock worth $223,000 after acquiring an additional 1,068 shares during the last quarter. Raymond James & Associates increased its holdings in shares of ITT by 3.2% in the 3rd quarter. Raymond James & Associates now owns 69,649 shares of the conglomerate’s stock worth $10,413,000 after purchasing an additional 2,176 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of ITT by 46.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after purchasing an additional 30,320 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of ITT by 6.3% during the third quarter. Sequoia Financial Advisors LLC now owns 25,604 shares of the conglomerate’s stock valued at $3,828,000 after purchasing an additional 1,522 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of ITT during the third quarter valued at $105,000. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ITT. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. 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 report on Friday, February 7th. Robert W. Baird dropped their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Citigroup decreased their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus lowered their price target on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Trading Down 1.3 %

Shares of ITT stock opened at $147.87 on Friday. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company’s fifty day simple moving average is $146.51 and its 200-day simple moving average is $145.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock has a market capitalization of $12.04 billion, a PE ratio of 23.47, a P/E/G ratio of 1.91 and a beta of 1.41.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, equities analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.95%. ITT’s payout ratio is 22.22%.

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.