ITT Inc. (NYSE:ITT) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC raised its holdings in ITT Inc. (NYSE:ITT) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,048 shares of the conglomerate’s stock after purchasing an additional 123 shares during the period. Tectonic Advisors LLC’s holdings in ITT were worth $435,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in ITT by 16.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,785 shares of the conglomerate’s stock worth $230,000 after purchasing an additional 253 shares during the period. Sanctuary Advisors LLC bought a new position in ITT in the second quarter worth about $489,000. GAMMA Investing LLC boosted its stake in ITT by 48.7% in the third quarter. GAMMA Investing LLC now owns 1,303 shares of the conglomerate’s stock valued at $195,000 after acquiring an additional 427 shares during the period. CWM LLC grew its holdings in shares of ITT by 191.4% during the third quarter. CWM LLC now owns 3,879 shares of the conglomerate’s stock valued at $580,000 after purchasing an additional 2,548 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Trading Down 2.2 %

ITT stock opened at $146.30 on Friday. ITT Inc. has a 52 week low of $118.58 and a 52 week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The firm has a market capitalization of $11.92 billion, a PE ratio of 24.97, a PEG ratio of 1.81 and a beta of 1.41. The business’s 50-day simple moving average is $148.05 and its 200-day simple moving average is $144.78.

ITT (NYSE:ITT) last issued its quarterly 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 17.98% and a net margin of 13.67%. Equities research analysts forecast that ITT Inc. will post 5.84 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. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 0.96%. ITT’s payout ratio is presently 21.84%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ITT shares. Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wolfe Research began coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.13.

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.