Cresset Asset Management LLC Sells 5,563 Shares of ITT Inc. (NYSE:ITT)

Cresset Asset Management LLC decreased its holdings in shares of ITT Inc. (NYSE:ITT) by 30.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,677 shares of the conglomerate’s stock after selling 5,563 shares during the quarter. Cresset Asset Management LLC’s holdings in ITT were worth $1,811,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its position in shares of ITT by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock valued at $1,641,000 after buying an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of ITT by 10.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock worth $183,000 after acquiring an additional 116 shares in the last quarter. Tectonic Advisors LLC raised its stake in shares of ITT by 4.2% during the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after acquiring an additional 123 shares in the last quarter. CIBC Asset Management Inc lifted its position in ITT by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock valued at $362,000 after acquiring an additional 125 shares during the last quarter. Finally, Quarry LP boosted its stake in ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 125 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITT has been the topic of a number of recent analyst reports. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus upped their target price on ITT from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. KeyCorp raised their price target on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Citigroup cut their price objective on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, UBS Group lifted their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.86.

ITT Stock Down 0.2 %

ITT stock opened at $143.18 on Friday. The company has a market capitalization of $11.27 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13. The firm’s fifty day simple moving average is $132.10 and its 200-day simple moving average is $142.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $1.42 earnings per share. As a group, equities research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Monday, June 2nd. ITT’s payout ratio is presently 22.26%.

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.