Pinebridge Investments L.P. Boosts Holdings in ITT Inc. (NYSE:ITT)

Pinebridge Investments L.P. increased its holdings in shares of ITT Inc. (NYSE:ITT) by 42.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,847 shares of the conglomerate’s stock after buying an additional 7,735 shares during the period. Pinebridge Investments L.P.’s holdings in ITT were worth $3,693,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in shares of ITT in the fourth quarter valued at $26,000. ORG Wealth Partners LLC purchased a new stake in ITT during the 4th quarter worth about $30,000. Whipplewood Advisors LLC acquired a new stake in ITT in the 4th quarter valued at about $34,000. V Square Quantitative Management LLC boosted its stake in shares of ITT by 79.1% in the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after buying an additional 182 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of ITT by 291.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock worth $59,000 after buying an additional 309 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on ITT shares. Citigroup decreased their price target on shares of ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 14th. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Friday. KeyCorp dropped their target price on ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. UBS Group lifted their price target on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Stifel Nicolaus dropped their price objective on ITT from $179.00 to $148.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.57.

ITT Stock Down 0.3 %

ITT stock opened at $137.18 on Friday. The company has a market capitalization of $11.11 billion, a P/E ratio of 21.77, a PEG ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The stock has a 50-day simple moving average of $132.34 and a 200-day simple moving average of $143.15.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating 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%. Equities research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. ITT’s dividend payout ratio is 22.22%.

ITT 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.