Everhart Financial Group Inc. Boosts Holdings in ITT Inc. (NYSE:ITT)

Everhart Financial Group Inc. boosted its position in ITT Inc. (NYSE:ITT) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,302 shares of the conglomerate’s stock after purchasing an additional 617 shares during the quarter. Everhart Financial Group Inc.’s holdings in ITT were worth $1,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ITT. Eagle Asset Management Inc. purchased a new stake in ITT in the 3rd quarter worth approximately $67,503,000. Erste Asset Management GmbH purchased a new stake in ITT in the 3rd quarter worth approximately $7,075,000. Polar Asset Management Partners Inc. lifted its stake in ITT by 68.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock worth $16,596,000 after purchasing an additional 45,300 shares in the last quarter. Victory Capital Management Inc. lifted its stake in ITT by 15.4% in the 3rd quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock worth $45,827,000 after purchasing an additional 40,860 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in ITT by 46.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after purchasing an additional 30,320 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday. Stifel Nicolaus lowered 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. Robert W. Baird lowered their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, ITT currently has an average rating of “Moderate Buy” and an average target price of $168.38.

ITT Stock Performance

ITT stock opened at $147.58 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $12.01 billion, a PE ratio of 23.43, a P/E/G ratio of 1.80 and a beta of 1.41. The firm has a fifty day simple moving average of $146.88 and a two-hundred day simple moving average of $145.09. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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%. Research analysts expect that ITT Inc. will post 6.33 EPS for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a $0.351 dividend. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.95%. ITT’s payout ratio is presently 22.22%.

About ITT

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.