42,066 Shares in ITT Inc. (NYSE:ITT) Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new position in shares of ITT Inc. (NYSE:ITT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 42,066 shares of the conglomerate’s stock, valued at approximately $6,010,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITT. Atria Investments Inc grew its holdings 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 acquiring an additional 163 shares during the period. Crossmark Global Holdings Inc. grew its holdings in ITT by 16.7% in the third quarter. Crossmark Global Holdings Inc. now owns 6,227 shares of the conglomerate’s stock valued at $931,000 after purchasing an additional 892 shares during the period. Entropy Technologies LP grew its holdings in ITT by 83.7% in the third quarter. Entropy Technologies LP now owns 14,489 shares of the conglomerate’s stock valued at $2,166,000 after purchasing an additional 6,600 shares during the period. Aigen Investment Management LP acquired a new stake in ITT in the third quarter valued at approximately $328,000. Finally, Victory Capital Management Inc. grew its holdings in ITT by 15.4% in the third quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock valued at $45,827,000 after purchasing an additional 40,860 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on ITT. Wolfe Research began coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. UBS Group raised their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. Citigroup dropped their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus dropped their price objective on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.38.

ITT Stock Performance

NYSE ITT opened at $132.29 on Thursday. The company has a market cap of $10.77 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. The stock’s 50 day simple moving average is $144.69 and its 200-day simple moving average is $145.96. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating the consensus estimate 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 research analysts anticipate 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. Investors of record on Thursday, March 6th will be given a dividend of $0.351 per share. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.06%. ITT’s dividend payout ratio (DPR) is presently 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.