FIL Ltd Increases Position in ITT Inc. (NYSE:ITT)

FIL Ltd grew its stake in ITT Inc. (NYSE:ITT - Free Report) by 41.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 302,188 shares of the conglomerate's stock after buying an additional 87,874 shares during the period. FIL Ltd owned 0.37% of ITT worth $43,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Rialto Wealth Management LLC bought a new position in ITT during the 4th quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new stake in ITT during the 4th quarter worth about $30,000. Whipplewood Advisors LLC acquired a new stake in ITT during the 4th quarter worth about $34,000. V Square Quantitative Management LLC lifted its stake in shares of 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 purchasing an additional 182 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of ITT by 291.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 309 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Down 0.1 %

Shares of ITT traded down $0.12 on Tuesday, reaching $126.95. The company's stock had a trading volume of 612,296 shares, compared to its average volume of 430,273. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13. The stock has a market capitalization of $10.28 billion, a PE ratio of 20.15, a PEG ratio of 1.89 and a beta of 1.36. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $135.38 and a 200-day moving average of $144.21.

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ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data 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%. Equities analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently announced 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 1.11%. ITT's dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ITT shares. KeyCorp lowered 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. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Citigroup dropped their price target on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Stifel Nicolaus cut their price target on ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.