Paradice Investment Management LLC Sells 69,445 Shares of ITT Inc. (NYSE:ITT)

Paradice Investment Management LLC decreased its position in ITT Inc. (NYSE:ITT) by 28.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,705 shares of the conglomerate’s stock after selling 69,445 shares during the quarter. ITT accounts for about 5.0% of Paradice Investment Management LLC’s holdings, making the stock its 8th biggest holding. Paradice Investment Management LLC owned 0.22% of ITT worth $25,105,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its stake in ITT by 1.3% in the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock valued at $797,000 after purchasing an additional 69 shares during the last quarter. CIBC Asset Management Inc increased its stake in ITT by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock valued at $360,000 after purchasing an additional 87 shares during the last quarter. Round Rock Advisors LLC increased its stake in ITT by 0.4% in the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock valued at $3,038,000 after purchasing an additional 90 shares during the last quarter. Tectonic Advisors LLC increased its stake in ITT by 3.3% in the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after purchasing an additional 93 shares during the last quarter. Finally, Savant Capital LLC increased its stake in ITT by 3.5% in the fourth quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate’s stock valued at $583,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITT. Wolfe Research assumed coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. TD Cowen lifted their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. KeyCorp lifted their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. UBS Group lifted their price objective on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Citigroup lowered their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ITT currently has an average rating of “Moderate Buy” and an average price target of $168.38.

ITT Stock Performance

ITT stock opened at $147.58 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08. The firm has a market cap of $12.03 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.80 and a beta of 1.41. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13. The stock’s 50 day simple moving average is $146.77 and its 200 day simple moving average is $145.18.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping analysts’ consensus estimates 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 research analysts predict that ITT Inc. will post 6.33 EPS for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be paid a $0.351 dividend. This is a boost 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 dividend yield of 0.95%. ITT’s dividend payout ratio is presently 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.