ITT Inc. (NYSE:ITT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in ITT Inc. (NYSE:ITT - Free Report) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,421 shares of the conglomerate's stock after selling 9,109 shares during the quarter. California Public Employees Retirement System owned about 0.17% of ITT worth $20,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITT. Rialto Wealth Management LLC acquired a new position in shares of ITT in the 4th quarter valued at $26,000. Resources Management Corp CT ADV acquired a new position 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 position in shares of ITT in the fourth quarter worth about $34,000. Finally, V Square Quantitative Management LLC lifted its holdings in shares of ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock worth $59,000 after purchasing an additional 182 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITT. KeyCorp decreased their price objective on ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday. UBS Group boosted their price target on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 7th. Stifel Nicolaus dropped their price objective 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. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Citigroup dropped their price target 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $167.43.

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ITT Stock Up 2.8 %

Shares of ITT stock traded up $3.15 during trading on Tuesday, hitting $116.91. 103,370 shares of the stock were exchanged, compared to its average volume of 500,976. The firm's 50-day moving average price is $139.26 and its 200 day moving average price is $145.49. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. ITT Inc. has a 12-month low of $105.64 and a 12-month 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.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results 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%. As a group, analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from ITT's previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 6th. ITT's dividend payout ratio (DPR) is presently 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.