Avantax Advisory Services Inc. Has $1.95 Million Holdings in ITT Inc. (NYSE:ITT)

Avantax Advisory Services Inc. trimmed its holdings in ITT Inc. (NYSE:ITT) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,625 shares of the conglomerate’s stock after selling 109 shares during the period. Avantax Advisory Services Inc.’s holdings in ITT were worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. M&T Bank Corp lifted its holdings in shares of ITT by 1.3% in the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after acquiring an additional 69 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock valued at $1,641,000 after purchasing an additional 81 shares during the last quarter. CIBC Asset Management Inc lifted its stake in ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock valued at $360,000 after purchasing an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in ITT by 10.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock valued at $183,000 after buying an additional 116 shares in the last quarter. Finally, Tectonic Advisors LLC increased its holdings in shares of ITT by 4.2% during the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after buying an additional 123 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

ITT stock opened at $136.79 on Tuesday. ITT Inc. has a 1-year low of $121.01 and a 1-year 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. The stock has a 50-day moving average price of $144.16 and a 200-day moving average price of $145.95. The firm has a market cap of $11.13 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) 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 expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a $0.351 dividend. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, March 6th. ITT’s payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of research reports. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. 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. KeyCorp boosted their target price on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. UBS Group increased 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. Finally, Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. One equities research 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, ITT presently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

About ITT

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.