Suncoast Equity Management Raises Position in ITT Inc. (NYSE:ITT)

Suncoast Equity Management lifted its position in shares of ITT Inc. (NYSE:ITT) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,595 shares of the conglomerate’s stock after acquiring an additional 1,225 shares during the quarter. Suncoast Equity Management’s holdings in ITT were worth $1,657,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in ITT during the 3rd quarter worth approximately $26,000. Resources Management Corp CT ADV purchased a new stake in shares of ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new position in ITT during the fourth quarter worth $30,000. Private Trust Co. NA raised its position in ITT by 232.2% in the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock worth $45,000 after acquiring an additional 209 shares in the last quarter. Finally, Coastline Trust Co purchased a new position in ITT in the third quarter worth $48,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Down 1.3 %

ITT opened at $147.87 on Friday. The firm has a market cap of $12.04 billion, a P/E ratio of 23.47, a PEG ratio of 1.91 and a beta of 1.41. The business’s fifty day simple moving average is $146.51 and its 200 day simple moving average is $145.37. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

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

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a $0.351 dividend. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, March 6th. ITT’s payout ratio is presently 20.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ITT shares. Robert W. Baird decreased their target price 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. UBS Group boosted their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. TD Cowen increased their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wolfe Research initiated coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Finally, StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. 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, ITT has a consensus rating of “Moderate Buy” and an average price target of $168.38.

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.