Whipplewood Advisors LLC Takes $34,000 Position in ITT Inc. (NYSE:ITT)

Whipplewood Advisors LLC acquired a new stake in shares of ITT Inc. (NYSE:ITT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 239 shares of the conglomerate’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of ITT by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock worth $108,817,000 after acquiring an additional 3,727 shares during the period. Suncoast Equity Management raised its holdings in ITT by 11.8% during the fourth quarter. Suncoast Equity Management now owns 11,595 shares of the conglomerate’s stock worth $1,657,000 after purchasing an additional 1,225 shares in the last quarter. ING Groep NV acquired a new stake in ITT in the fourth quarter worth approximately $1,214,000. Handelsbanken Fonder AB boosted its stake in ITT by 17.1% during the 4th quarter. Handelsbanken Fonder AB now owns 19,900 shares of the conglomerate’s stock valued at $2,843,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of ITT in the 4th quarter worth $411,000. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ITT shares. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Stifel Nicolaus reduced their price objective 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. Citigroup dropped their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Wolfe Research began coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Stock Up 0.3 %

ITT stock opened at $141.06 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The firm has a market capitalization of $11.48 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.89 and a beta of 1.41. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13. The company’s 50 day simple moving average is $145.87 and its 200-day simple moving average is $145.92.

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

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.00%. ITT’s dividend payout ratio (DPR) is presently 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.