Wealthfront Advisers LLC Invests $6.01 Million in ITT Inc. (NYSE:ITT)

Wealthfront Advisers LLC bought a new stake in shares of ITT Inc. (NYSE:ITT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 42,066 shares of the conglomerate’s stock, valued at approximately $6,010,000. Wealthfront Advisers LLC owned about 0.05% of ITT as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Atria Investments Inc grew its position in ITT by 3.4% in the 3rd quarter. Atria Investments Inc now owns 4,912 shares of the conglomerate’s stock valued at $734,000 after acquiring an additional 163 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of ITT by 16.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,227 shares of the conglomerate’s stock worth $931,000 after purchasing an additional 892 shares during the last quarter. Entropy Technologies LP lifted its stake in shares of ITT by 83.7% during the 3rd quarter. Entropy Technologies LP now owns 14,489 shares of the conglomerate’s stock worth $2,166,000 after purchasing an additional 6,600 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of ITT during the 3rd quarter worth $328,000. Finally, Victory Capital Management Inc. lifted its stake in shares of ITT by 15.4% during the 3rd quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock worth $45,827,000 after purchasing an additional 40,860 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus decreased their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. KeyCorp increased their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $168.38.

ITT Trading Down 1.2 %

Shares of NYSE:ITT opened at $132.29 on Thursday. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.89 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $144.69 and a 200-day moving average price of $145.96.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Equities analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 1.06%. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT’s dividend payout ratio (DPR) is 22.22%.

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.