Cresset Asset Management LLC decreased its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 30.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,677 shares of the conglomerate's stock after selling 5,563 shares during the quarter. Cresset Asset Management LLC's holdings in ITT were worth $1,811,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Crestline Management LP bought a new stake in ITT during the fourth quarter worth $2,386,000. Cubist Systematic Strategies LLC acquired a new position in shares of ITT in the fourth quarter valued at about $1,242,000. Cetera Investment Advisers grew its stake in shares of ITT by 19.5% in the fourth quarter. Cetera Investment Advisers now owns 6,262 shares of the conglomerate's stock valued at $895,000 after acquiring an additional 1,024 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of ITT in the fourth quarter valued at about $431,000. Finally, Captrust Financial Advisors lifted its position in ITT by 106.6% during the fourth quarter. Captrust Financial Advisors now owns 25,398 shares of the conglomerate's stock worth $3,629,000 after purchasing an additional 13,105 shares during the period. Institutional investors own 91.59% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on ITT shares. KeyCorp raised their price objective on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus boosted their price target on shares of ITT from $148.00 to $161.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group boosted their target price on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Citigroup dropped their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, ITT has an average rating of "Moderate Buy" and an average target price of $161.86.
Check Out Our Latest Stock Analysis on ITT
ITT Price Performance
Shares of ITT stock traded down $0.65 during mid-day trading on Wednesday, hitting $149.80. The company had a trading volume of 408,992 shares, compared to its average volume of 450,993. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.13. The stock's 50 day moving average price is $132.58 and its 200-day moving average price is $142.57. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The company has a market capitalization of $11.79 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.89 and a beta of 1.36.
ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. The business had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The business's revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 earnings per share. Equities research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.
ITT Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio is presently 22.26%.
ITT Profile
(
Free Report)
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.
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