Congress Wealth Management LLC DE Reduces Stock Holdings in ITT Inc. (NYSE:ITT)

Congress Wealth Management LLC DE lowered its holdings in shares of ITT Inc. (NYSE:ITT) by 57.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,535 shares of the conglomerate’s stock after selling 13,010 shares during the quarter. Congress Wealth Management LLC DE’s holdings in ITT were worth $1,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in ITT during the fourth quarter valued at approximately $26,000. Resources Management Corp CT ADV purchased a new stake in shares of ITT in the 3rd quarter worth $30,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT in the 4th quarter worth $30,000. Whipplewood Advisors LLC purchased a new position in ITT during the fourth quarter valued at $34,000. Finally, Private Trust Co. NA grew its holdings in ITT by 232.2% during the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 209 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Stock Down 2.7 %

Shares of ITT stock opened at $134.26 on Friday. The company’s fifty day simple moving average is $143.08 and its two-hundred day simple moving average is $145.93. 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 $10.93 billion, a P/E ratio of 21.31, 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.

ITT (NYSE:ITT) last posted its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be given a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ITT shares. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Wolfe Research assumed coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. Stifel Nicolaus dropped their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Citigroup dropped their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, ITT has an average rating of “Moderate Buy” and an average target price of $170.29.

ITT Company 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.