ITT Inc. (NYSE:ITT) Stake Boosted by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. raised its position in shares of ITT Inc. (NYSE:ITT) by 290.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,578 shares of the conglomerate’s stock after buying an additional 6,380 shares during the quarter. Ramirez Asset Management Inc.’s holdings in ITT were worth $1,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in ITT in the 4th quarter worth approximately $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT in the third quarter worth $30,000. ORG Wealth Partners LLC purchased a new position in shares of ITT during the fourth quarter valued at $30,000. Whipplewood Advisors LLC acquired a new position in ITT during the fourth quarter valued at $34,000. Finally, Private Trust Co. NA boosted its position in ITT by 232.2% during 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 period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ITT has been the subject of a number of research analyst reports. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Citigroup decreased their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group upped their price target on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Stifel Nicolaus reduced their price objective on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, KeyCorp upped their target price on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.29.

ITT Stock Performance

NYSE:ITT opened at $134.26 on Friday. 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 firm has a 50-day moving average price of $143.08 and a 200 day moving average price of $145.93. The firm has a market capitalization of $10.93 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm 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 an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.05%. 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.