Tectonic Advisors LLC Buys 123 Shares of ITT Inc. (NYSE:ITT)

Tectonic Advisors LLC raised its stake in shares of ITT Inc. (NYSE:ITT) by 4.2% in the fourth quarter, Holdings Channel reports. The fund owned 3,048 shares of the conglomerate’s stock after acquiring an additional 123 shares during the period. Tectonic Advisors LLC’s holdings in ITT were worth $435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Asset Management Inc. bought a new position in ITT during the 3rd quarter valued at about $67,503,000. Allspring Global Investments Holdings LLC increased its holdings in shares of ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after buying an additional 30,320 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of ITT by 16,832.5% in the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after acquiring an additional 13,971 shares during the last quarter. Algert Global LLC boosted its holdings in shares of ITT by 101.2% in the 3rd quarter. Algert Global LLC now owns 18,034 shares of the conglomerate’s stock worth $2,696,000 after acquiring an additional 9,070 shares in the last quarter. Finally, Pier 88 Investment Partners LLC grew its position in ITT by 268.1% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock worth $4,161,000 after acquiring an additional 20,270 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Price Performance

ITT opened at $146.30 on Friday. The company has a fifty day moving average price of $148.05 and a two-hundred day moving average price of $144.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The firm has a market capitalization of $11.92 billion, a PE ratio of 24.97, a P/E/G ratio of 1.81 and a beta of 1.41. ITT Inc. has a 52 week low of $118.58 and a 52 week high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 17.98% and a net margin of 13.67%. As a group, analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be issued a $0.351 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 0.96%. ITT’s payout ratio is 21.84%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ITT shares. TD Cowen lifted their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Citigroup reduced their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird lowered their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wolfe Research began coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, KeyCorp raised their price target on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, ITT currently has an average rating of “Moderate Buy” and a consensus price target of $167.13.

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.