First Trust Advisors LP Acquires 103,198 Shares of ITT Inc. (NYSE:ITT)

First Trust Advisors LP boosted its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 18.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 659,143 shares of the conglomerate's stock after acquiring an additional 103,198 shares during the period. First Trust Advisors LP owned approximately 0.81% of ITT worth $94,178,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new stake in ITT in the 4th quarter valued at $30,000. Whipplewood Advisors LLC acquired a new position in shares of ITT in the 4th quarter valued at $34,000. V Square Quantitative Management LLC raised 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 buying an additional 182 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of ITT by 291.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock worth $59,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Price Performance

Shares of NYSE:ITT traded down $0.35 during midday trading on Friday, reaching $137.18. The company's stock had a trading volume of 832,071 shares, compared to its average volume of 443,873. The business's fifty day simple moving average is $132.59 and its 200-day simple moving average is $143.22. The company has a market capitalization of $11.11 billion, a P/E 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 current ratio of 1.40 and a quick ratio of 0.96. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. This is a positive change 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%.

Wall Street Analyst Weigh In

ITT has been the subject of several recent research reports. Citigroup dropped their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 14th. KeyCorp cut their target price on ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus lowered their price target on ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. UBS Group increased their price objective on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.