Summit Trail Advisors LLC Sells 197 Shares of ITT Inc. (NYSE:ITT)

Summit Trail Advisors LLC lessened its stake in ITT Inc. (NYSE:ITT) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,693 shares of the conglomerate’s stock after selling 197 shares during the period. Summit Trail Advisors LLC’s holdings in ITT were worth $321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. AdvisorNet Financial Inc lifted its position in ITT by 101.0% in the fourth 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. Clearstead Advisors LLC boosted its position 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 buying an additional 250 shares during the period. Bfsg LLC bought a new stake in ITT in the 4th quarter worth $73,000. GAMMA Investing LLC purchased a new position in shares of ITT in the fourth quarter valued at about $94,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of ITT by 3,528.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 907 shares of the conglomerate’s stock valued at $108,000 after acquiring an additional 882 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. KeyCorp boosted their price target on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. StockNews.com lowered ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Citigroup upped their price target on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, DA Davidson increased their price target on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $135.57.

ITT Price Performance

ITT opened at $134.63 on Wednesday. ITT Inc. has a 1 year low of $75.82 and a 1 year high of $138.29. The stock has a 50-day moving average price of $129.75 and a 200-day moving average price of $119.36. The firm has a market cap of $11.08 billion, a PE ratio of 26.40, a P/E/G ratio of 1.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. During the same quarter in the prior year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts predict that ITT Inc. will post 5.8 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, June 3rd. ITT’s payout ratio is currently 25.10%.

ITT 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.