ITT Inc. (NYSE:ITT) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 45.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,256 shares of the conglomerate's stock after selling 2,746 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in ITT were worth $420,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ITT. Rialto Wealth Management LLC acquired a new position in shares of ITT during the fourth quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in ITT in the fourth quarter valued at $34,000. Quarry LP grew its stake in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after purchasing an additional 125 shares during the period. Smartleaf Asset Management LLC boosted its holdings in ITT by 291.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock worth $59,000 after buying an additional 309 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of ITT during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Price Performance

ITT stock traded up $1.79 during midday trading on Tuesday, reaching $158.62. 276,930 shares of the company's stock traded hands, compared to its average volume of 452,516. The business has a 50-day moving average price of $148.58 and a two-hundred day moving average price of $142.48. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The company has a market capitalization of $12.48 billion, a P/E ratio of 25.22, a PEG ratio of 2.05 and a beta of 1.35.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.44 by $0.01. The firm had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. ITT's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. As a group, research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were paid a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Monday, June 2nd. ITT's dividend payout ratio (DPR) is 22.26%.

Analysts Set New Price Targets

ITT has been the subject of a number of research analyst reports. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group raised their price target on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Citigroup cut their price objective on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Bank of America increased their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, KeyCorp raised their price target on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $165.50.

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.