Sequoia Financial Advisors LLC Grows Holdings in ITT Inc. (NYSE:ITT)

Sequoia Financial Advisors LLC raised its position in ITT Inc. (NYSE:ITT - Free Report) by 10.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,831 shares of the conglomerate's stock after purchasing an additional 2,765 shares during the quarter. Sequoia Financial Advisors LLC's holdings in ITT were worth $3,853,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on ITT. The Goldman Sachs Group increased their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Stifel Nicolaus increased their price objective on ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research note on Friday, May 16th. KeyCorp lifted their target price on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Citigroup cut their price target on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Bank of America lifted their price objective on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.50.

ITT Stock Up 1.1%

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

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

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, June 2nd. ITT's dividend payout ratio (DPR) is currently 22.26%.

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.