Sequoia Financial Advisors LLC Takes $2.90 Million Position in ITT Inc. (NYSE:ITT)

Sequoia Financial Advisors LLC acquired a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,312 shares of the conglomerate's stock, valued at approximately $2,901,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of ITT by 63.4% during the 3rd quarter. IFP Advisors Inc now owns 304 shares of the conglomerate's stock worth $30,000 after acquiring an additional 118 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new position in ITT during the 3rd quarter valued at about $34,000. KB Financial Partners LLC bought a new position in ITT during the 1st quarter valued at about $36,000. AdvisorNet Financial Inc lifted its holdings in ITT by 101.0% during the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate's stock valued at $48,000 after purchasing an additional 204 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in ITT by 81.7% during the 3rd quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate's stock valued at $54,000 after purchasing an additional 250 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Stock Performance

ITT traded down $2.14 during midday trading on Friday, hitting $128.74. The company had a trading volume of 251,730 shares, compared to its average volume of 356,219. The company has a market capitalization of $10.59 billion, a PE ratio of 25.96, a P/E/G ratio of 1.78 and a beta of 1.43. ITT Inc. has a twelve month low of $75.82 and a twelve month high of $138.29. The firm's 50-day simple moving average is $128.06 and its 200-day simple moving average is $115.39.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company had revenue of $829.10 million during the quarter, compared to analysts' expectations of $814.38 million. During the same quarter in the previous year, the company earned $1.29 EPS. ITT's revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that ITT Inc. will post 5.79 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a dividend of $0.319 per share. This is a boost from ITT's previous quarterly dividend of $0.29. The ex-dividend date was Thursday, March 7th. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. ITT's payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ITT shares. Stifel Nicolaus lifted their price target on shares of ITT from $122.00 to $131.00 and gave the company a "buy" rating in a report on Tuesday, December 19th. Citigroup lifted their price target on shares of ITT from $139.00 to $157.00 and gave the company a "buy" rating in a report on Monday. StockNews.com downgraded shares of ITT from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 6th. KeyCorp lifted their price target on shares of ITT from $136.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday. Finally, DA Davidson raised their price objective on shares of ITT from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $132.86.

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.