FIL Ltd Raises Stock Holdings in ITT Inc. (NYSE:ITT)

FIL Ltd boosted its stake in ITT Inc. (NYSE:ITT) by 41.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,188 shares of the conglomerate’s stock after purchasing an additional 87,874 shares during the quarter. FIL Ltd owned about 0.37% of ITT worth $43,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ITT. Invesco Ltd. increased its holdings in shares of ITT by 12.2% in the 4th quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate’s stock worth $222,947,000 after buying an additional 169,054 shares during the last quarter. Geode Capital Management LLC increased its stake in ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after acquiring an additional 8,223 shares during the last quarter. Alliancebernstein L.P. raised its position in ITT by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock valued at $195,256,000 after purchasing an additional 169,944 shares in the last quarter. Norges Bank purchased a new stake in ITT during the fourth quarter valued at about $134,433,000. Finally, Boston Partners lifted its stake in ITT by 7.0% during the fourth quarter. Boston Partners now owns 930,069 shares of the conglomerate’s stock worth $132,915,000 after purchasing an additional 61,132 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Price Performance

Shares of ITT stock opened at $122.37 on Friday. The company’s fifty day simple moving average is $136.31 and its two-hundred day simple moving average is $144.57. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The firm has a market cap of $9.96 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. 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 posted its earnings results 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%. As a group, equities analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were paid a $0.351 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.15%. ITT’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ITT. KeyCorp decreased their price objective on ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday. 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. Citigroup cut their price objective 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. Stifel Nicolaus decreased their target price 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. Finally, StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and a consensus target price of $167.43.

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.