Southeast Asset Advisors LLC Raises Stock Position in ITT Inc. (NYSE:ITT)

Southeast Asset Advisors LLC increased its holdings in shares of ITT Inc. (NYSE:ITT) by 14.3% in the fourth quarter, Holdings Channel reports. The firm owned 32,792 shares of the conglomerate’s stock after acquiring an additional 4,097 shares during the period. ITT makes up 0.6% of Southeast Asset Advisors LLC’s portfolio, making the stock its 27th biggest position. Southeast Asset Advisors LLC’s holdings in ITT were worth $4,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of ITT in the fourth quarter worth about $26,000. Resources Management Corp CT ADV acquired a new position in ITT during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC purchased a new position in ITT in the 4th quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new stake in ITT in the fourth quarter valued at approximately $34,000. Finally, V Square Quantitative Management LLC lifted its position in shares of ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 182 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Trading Down 5.5 %

Shares of NYSE ITT opened at $113.03 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $139.91 and its two-hundred day moving average price is $145.72. ITT Inc. has a 52-week low of $109.49 and a 52-week high of $161.13. The stock has a market capitalization of $9.20 billion, a P/E ratio of 17.94, a PEG ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT) last posted its quarterly 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 return on equity of 18.03% and a net margin of 14.27%. On average, analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were given a $0.351 dividend. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, March 6th. ITT’s dividend payout ratio (DPR) is presently 22.22%.

Analysts Set New Price Targets

ITT has been the subject of a number of recent analyst reports. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. Citigroup lowered their target price on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus cut their price target on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, KeyCorp upped their target price on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $170.29.

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.