Alliancebernstein L.P. increased its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366,576 shares of the conglomerate's stock after buying an additional 169,944 shares during the period. Alliancebernstein L.P. owned about 1.68% of ITT worth $195,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC acquired a new position in shares of ITT during the fourth quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT in the third quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new position in shares of ITT in the fourth quarter worth about $30,000. Whipplewood Advisors LLC purchased a new stake in ITT during the 4th quarter valued at about $34,000. Finally, V Square Quantitative Management LLC raised its holdings in 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 acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on ITT. UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Wolfe Research began coverage on ITT in a report on Wednesday, December 11th. They issued a "peer perform" rating for the company. KeyCorp lifted their price target on ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Citigroup dropped their price objective on shares of ITT from $183.00 to $181.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus reduced their target price on shares of ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $170.29.
Check Out Our Latest Analysis on ITT
ITT Trading Down 5.5 %
Shares of ITT stock traded down $6.53 during trading hours on Friday, hitting $113.03. The company had a trading volume of 1,313,825 shares, compared to its average volume of 412,101. ITT Inc. has a fifty-two week low of $109.49 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The company's fifty day moving average is $139.91 and its 200 day moving average is $145.67. The stock has a market capitalization of $9.20 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.
ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 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%. Research analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.
ITT Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 annualized dividend and a dividend yield of 1.24%. ITT's dividend payout ratio (DPR) is presently 22.22%.
About ITT
(
Free Report)
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.
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