Cerity Partners LLC Raises Stock Position in ITT Inc. (NYSE:ITT)

Cerity Partners LLC lifted its stake in shares of ITT Inc. (NYSE:ITT) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,903 shares of the conglomerate’s stock after acquiring an additional 5,639 shares during the quarter. Cerity Partners LLC’s holdings in ITT were worth $3,448,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ITT. IFP Advisors Inc increased its position in shares of ITT by 63.4% during the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 118 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of ITT during the third quarter worth approximately $34,000. KB Financial Partners LLC bought a new position in shares of ITT during the first quarter valued at approximately $36,000. AdvisorNet Financial Inc boosted its stake in shares of ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after purchasing an additional 204 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its stake in shares of ITT by 81.7% during the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock valued at $54,000 after purchasing an additional 250 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Down 1.9 %

NYSE:ITT opened at $125.10 on Thursday. ITT Inc. has a 12 month low of $75.82 and a 12 month high of $138.29. The firm has a fifty day simple moving average of $128.15 and a 200-day simple moving average of $116.14. The company has a market capitalization of $10.29 billion, a P/E ratio of 25.22, a PEG ratio of 1.75 and a beta of 1.43.

ITT (NYSE:ITT) last issued its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The firm had revenue of $829.10 million during the quarter, compared to analysts’ expectations of $814.38 million. During the same quarter last year, the company posted $1.29 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities analysts forecast that ITT Inc. will post 5.79 EPS for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio (DPR) is 25.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. DA Davidson raised their target price on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. KeyCorp raised their target price on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Finally, Stifel Nicolaus raised their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $135.57.

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.