Sequoia Financial Advisors LLC Boosts Stock Holdings in ITT Inc. (NYSE:ITT)

Sequoia Financial Advisors LLC boosted its stake in shares of ITT Inc. (NYSE:ITT) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,066 shares of the conglomerate’s stock after purchasing an additional 1,462 shares during the period. Sequoia Financial Advisors LLC’s holdings in ITT were worth $3,867,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ITT. Atria Investments Inc raised its stake in ITT by 3.4% during the third quarter. Atria Investments Inc now owns 4,912 shares of the conglomerate’s stock worth $734,000 after purchasing an additional 163 shares during the period. Crossmark Global Holdings Inc. raised its stake in ITT by 16.7% during the third quarter. Crossmark Global Holdings Inc. now owns 6,227 shares of the conglomerate’s stock worth $931,000 after purchasing an additional 892 shares during the period. Aigen Investment Management LP purchased a new position in ITT during the third quarter worth approximately $328,000. Victory Capital Management Inc. raised its stake in ITT by 15.4% during the third quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock worth $45,827,000 after purchasing an additional 40,860 shares during the period. Finally, Pier 88 Investment Partners LLC raised its stake in ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock worth $4,161,000 after purchasing an additional 20,270 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ITT shares. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. KeyCorp raised their target price on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wolfe Research started coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Stifel Nicolaus cut their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Citigroup cut their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Price Performance

ITT opened at $129.73 on Friday. The company has a fifty day simple moving average of $144.69 and a 200 day simple moving average of $145.96. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.89 and a beta of 1.42. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13. 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 (NYSE:ITT) last released its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating 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%. Equities research analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s dividend payout ratio (DPR) is currently 22.22%.

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.