Zacks Investment Management Lowers Stock Position in ITT Inc. (NYSE:ITT)

Zacks Investment Management lowered its stake in shares of ITT Inc. (NYSE:ITT) by 72.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,993 shares of the conglomerate’s stock after selling 18,137 shares during the quarter. Zacks Investment Management’s holdings in ITT were worth $999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Jump Financial LLC grew its stake in ITT by 92.0% during the 4th quarter. Jump Financial LLC now owns 6,979 shares of the conglomerate’s stock worth $997,000 after buying an additional 3,345 shares during the last quarter. Mariner LLC raised its holdings in shares of ITT by 8.6% in the fourth quarter. Mariner LLC now owns 15,386 shares of the conglomerate’s stock worth $2,198,000 after buying an additional 1,221 shares during the last quarter. Barclays PLC lifted its stake in shares of ITT by 114.0% during the fourth quarter. Barclays PLC now owns 134,206 shares of the conglomerate’s stock worth $19,176,000 after buying an additional 71,503 shares during the period. Synovus Financial Corp grew its holdings in shares of ITT by 1.4% during the fourth quarter. Synovus Financial Corp now owns 10,140 shares of the conglomerate’s stock valued at $1,449,000 after buying an additional 137 shares during the last quarter. Finally, Seeds Investor LLC acquired a new position in shares of ITT in the 4th quarter valued at $409,000. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

ITT opened at $127.93 on Friday. The firm has a fifty day moving average price of $133.86 and a 200 day moving average price of $143.68. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13. The stock has a market cap of $10.36 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT) last issued its quarterly earnings data 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 net margin of 14.27% and a return on equity of 18.03%. Equities research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is 22.22%.

Analyst Ratings Changes

Several analysts have weighed in on the company. KeyCorp dropped their price target on ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on shares of ITT from $179.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Citigroup cut their price objective on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ITT currently has a consensus rating of “Moderate Buy” and an average price target of $158.57.

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.