CANADA LIFE ASSURANCE Co Trims Stock Holdings in ITT Inc. (NYSE:ITT)

CANADA LIFE ASSURANCE Co decreased its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,538 shares of the conglomerate's stock after selling 2,524 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.07% of ITT worth $8,222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its position in ITT by 0.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock worth $1,641,000 after acquiring an additional 81 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of ITT by 10.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock worth $183,000 after purchasing an additional 116 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in shares of ITT by 4.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock worth $435,000 after purchasing an additional 123 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of ITT by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate's stock valued at $362,000 after purchasing an additional 125 shares during the last quarter. Finally, Savant Capital LLC raised its holdings in shares of ITT by 3.5% during the 4th quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate's stock valued at $583,000 after buying an additional 137 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Trading Down 0.3 %

Shares of NYSE ITT traded down $0.35 during trading hours on Friday, hitting $137.18. The company's stock had a trading volume of 832,166 shares, compared to its average volume of 444,684. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The business has a 50-day simple moving average of $132.34 and a 200-day simple moving average of $143.15.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 18.03% and a net margin of 14.27%. On average, analysts anticipate 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. Investors of record on Thursday, March 6th were paid a $0.351 dividend. This is an increase from ITT's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 6th. ITT's dividend payout ratio is presently 22.22%.

Analyst Ratings Changes

ITT has been the topic of a number of recent research reports. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Stifel Nicolaus reduced their target price on shares of ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group boosted their price target on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Citigroup reduced their price objective on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, KeyCorp dropped their target price on ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One investment 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.57.

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.