Envestnet Portfolio Solutions Inc. Has $862,000 Holdings in ITT Inc. (NYSE:ITT)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,674 shares of the conglomerate’s stock after selling 83 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in ITT were worth $862,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ITT. International Assets Investment Management LLC bought a new position in shares of ITT in the fourth quarter valued at about $157,000. Allspring Global Investments Holdings LLC lifted its position in shares of ITT by 184.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,590 shares of the conglomerate’s stock worth $1,144,000 after purchasing an additional 6,222 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ITT by 3.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,772 shares of the conglomerate’s stock valued at $2,836,000 after purchasing an additional 822 shares during the last quarter. Signaturefd LLC grew its stake in shares of ITT by 8.2% during the fourth quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 87 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of ITT in the fourth quarter valued at approximately $94,000. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $135.04 on Monday. The stock has a 50-day moving average of $132.53 and a 200-day moving average of $130.78. ITT Inc. has a one year low of $91.94 and a one year high of $149.65. The stock has a market cap of $11.11 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.08.

ITT (NYSE:ITT) last posted its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $905.90 million for the quarter, compared to analyst estimates of $916.38 million. During the same period last year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that ITT Inc. will post 5.83 earnings per share for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Tuesday, September 3rd. ITT’s dividend payout ratio is currently 24.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus increased their price objective on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. TD Cowen lifted their price objective on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. KeyCorp boosted their price objective on ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, UBS Group raised their target price on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT currently has a consensus rating of “Buy” and an average price target of $151.00.

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.