Rialto Wealth Management LLC Buys Shares of 184 ITT Inc. (NYSE:ITT)

Rialto Wealth Management LLC purchased a new position in shares of ITT Inc. (NYSE:ITT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 184 shares of the conglomerate’s stock, valued at approximately $26,000.

Other large investors have also modified their holdings of the company. State Street Corp grew its position in ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after purchasing an additional 26,133 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ITT by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after buying an additional 8,223 shares during the period. Bank of New York Mellon Corp grew its holdings in ITT by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock worth $108,817,000 after buying an additional 3,727 shares in the last quarter. Westfield Capital Management Co. LP increased its position in ITT by 4.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock valued at $100,100,000 after acquiring an additional 27,885 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in ITT by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock valued at $73,913,000 after acquiring an additional 3,424 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

NYSE ITT opened at $138.82 on Monday. The company’s fifty day moving average is $145.22 and its two-hundred day moving average is $146.09. ITT Inc. has a 52-week low of $121.01 and a 52-week 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 firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Equities research analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. 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. ITT’s dividend payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ITT shares. UBS Group raised their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. KeyCorp raised their target price on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Wolfe Research started coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.38.

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.