Vest Financial LLC Buys 6,626 Shares of ITT Inc. (NYSE:ITT)

Vest Financial LLC boosted its position in shares of ITT Inc. (NYSE:ITT) by 63.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,004 shares of the conglomerate’s stock after purchasing an additional 6,626 shares during the period. Vest Financial LLC’s holdings in ITT were worth $2,430,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after buying an additional 26,133 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after purchasing an additional 8,223 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in ITT by 4.3% during the third quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after purchasing an additional 27,885 shares during the last quarter. Eagle Asset Management Inc. bought a new position in ITT in the third quarter valued at $67,503,000. Finally, Loomis Sayles & Co. L P boosted its position in ITT by 1.1% during the third quarter. Loomis Sayles & Co. L P now owns 381,580 shares of the conglomerate’s stock valued at $57,050,000 after purchasing an additional 4,271 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. KeyCorp raised their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. UBS Group lifted their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus cut their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Wolfe Research initiated coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Price Performance

ITT stock opened at $146.07 on Friday. The stock’s 50 day moving average is $147.84 and its 200 day moving average is $144.84. ITT Inc. has a one year low of $118.58 and a one year high of $161.13. The firm has a market cap of $11.91 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 1.09.

ITT (NYSE:ITT) last announced its earnings results 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%. As a group, research analysts expect that ITT Inc. will post 6.33 EPS for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a dividend of $0.351 per share. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 0.96%. ITT’s dividend payout ratio is currently 20.32%.

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.