Oppenheimer Asset Management Inc. Increases Stock Holdings in ITT Inc. (NYSE:ITT)

Oppenheimer Asset Management Inc. increased its position in ITT Inc. (NYSE:ITT) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,486 shares of the conglomerate’s stock after acquiring an additional 81 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ITT were worth $1,641,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ITT. Capital Performance Advisors LLP bought a new position in ITT in the 3rd quarter valued at $26,000. Resources Management Corp CT ADV bought a new stake in ITT during the third quarter valued at $30,000. ORG Wealth Partners LLC purchased a new position in ITT during the fourth quarter worth about $30,000. Whipplewood Advisors LLC bought a new position in ITT in the 4th quarter worth about $34,000. Finally, Private Trust Co. NA increased its stake in ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock worth $45,000 after acquiring an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. KeyCorp raised their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. UBS Group upped their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Price Performance

Shares of ITT stock opened at $137.30 on Tuesday. The stock has a market capitalization of $11.18 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. 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 business’s 50 day simple moving average is $145.76 and its two-hundred day simple moving average is $146.01.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share 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%. Analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently declared 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. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. ITT’s dividend payout ratio is presently 22.22%.

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.