American Century Companies Inc. Has $6.45 Million Holdings in ITT Inc. (NYSE:ITT)

American Century Companies Inc. grew its position in ITT Inc. (NYSE:ITT - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,149 shares of the conglomerate's stock after purchasing an additional 4,449 shares during the period. American Century Companies Inc. owned approximately 0.06% of ITT worth $6,451,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of ITT during the 4th quarter worth about $73,762,000. Proficio Capital Partners LLC acquired a new position in ITT during the fourth quarter valued at approximately $19,345,000. Boston Partners grew its stake in ITT by 7.0% in the fourth quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock valued at $132,915,000 after purchasing an additional 61,132 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of ITT by 34.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 198,550 shares of the conglomerate's stock worth $28,369,000 after purchasing an additional 50,384 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of ITT during the 4th quarter worth approximately $6,010,000. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. KeyCorp lowered their target price on shares of ITT from $170.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday. Citigroup dropped their target price on shares of ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Stifel Nicolaus lowered their price target on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Wolfe Research initiated coverage on ITT in a research report on Wednesday, December 11th. They issued a "peer perform" rating for the company. Finally, UBS Group boosted their target price on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.43.

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ITT Stock Performance

Shares of ITT traded up $12.34 during midday trading on Wednesday, reaching $125.01. 765,714 shares of the stock were exchanged, compared to its average volume of 419,171. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock's 50 day simple moving average is $136.83 and its 200 day simple moving average is $144.75. The company has a market cap of $10.18 billion, a P/E ratio of 19.84, a PEG 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 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were issued a $0.351 dividend. 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 1.12%. The ex-dividend date of this dividend was Thursday, March 6th. ITT's dividend payout ratio (DPR) is currently 22.22%.

About ITT

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.