Wealth Enhancement Advisory Services LLC Grows Position in ITT Inc. (NYSE:ITT)

Wealth Enhancement Advisory Services LLC lifted its position in shares of ITT Inc. (NYSE:ITT) by 12.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,147 shares of the conglomerate’s stock after purchasing an additional 1,098 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ITT were worth $1,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of ITT by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock valued at $73,913,000 after buying an additional 3,424 shares in the last quarter. Merit Financial Group LLC purchased a new position in ITT during the 1st quarter valued at about $273,000. AlphaQuest LLC boosted its stake in ITT by 422.7% during the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock worth $601,000 after acquiring an additional 3,403 shares in the last quarter. Intech Investment Management LLC boosted its stake in ITT by 218.0% during the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate’s stock worth $2,008,000 after acquiring an additional 9,633 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in ITT by 19.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate’s stock worth $2,267,000 after purchasing an additional 2,917 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITT has been the subject of several recent research reports. Stifel Nicolaus lifted their target price on shares of ITT from $161.00 to $171.00 and gave the company a “buy” rating in a report on Friday, May 16th. KeyCorp boosted their target price on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Bank of America raised their price target on ITT from $145.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Wall Street Zen upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, Citigroup cut their price objective on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.50.

ITT Price Performance

Shares of NYSE:ITT opened at $156.93 on Tuesday. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13. The company has a market cap of $12.35 billion, a P/E ratio of 24.95, a PEG ratio of 2.06 and a beta of 1.35. The stock’s fifty day moving average price is $148.00 and its 200-day moving average price is $142.36.

ITT (NYSE:ITT) last issued its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The business had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. ITT’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 EPS. On average, sell-side analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.89%. The ex-dividend date was Monday, June 2nd. ITT’s dividend payout ratio is currently 22.26%.

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.