Franklin Resources Inc. Has $747,000 Holdings in ITT Inc. (NYSE:ITT)

Franklin Resources Inc. lessened its holdings in ITT Inc. (NYSE:ITT - Free Report) by 68.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,227 shares of the conglomerate's stock after selling 11,517 shares during the period. Franklin Resources Inc.'s holdings in ITT were worth $747,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp boosted its holdings in shares of ITT by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 21,455 shares of the conglomerate's stock worth $3,208,000 after buying an additional 221 shares during the period. MML Investors Services LLC boosted its holdings in ITT by 3.0% during the third quarter. MML Investors Services LLC now owns 5,070 shares of the conglomerate's stock valued at $758,000 after acquiring an additional 150 shares during the period. Sanctuary Advisors LLC grew its position in shares of ITT by 6.0% in the third quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate's stock valued at $626,000 after purchasing an additional 225 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of ITT in the third quarter worth about $64,000. Finally, Tidal Investments LLC lifted its position in shares of ITT by 12.4% during the 3rd quarter. Tidal Investments LLC now owns 6,487 shares of the conglomerate's stock worth $970,000 after purchasing an additional 716 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 7th. KeyCorp dropped their target price on shares of ITT from $170.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Stifel Nicolaus decreased their price target on shares of ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Citigroup cut their price objective 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, ITT has a consensus rating of "Moderate Buy" and a consensus price target of $158.57.

ITT Price Performance

NYSE ITT traded up $4.31 on Tuesday, reaching $129.71. The company's stock had a trading volume of 849,144 shares, compared to its average volume of 438,155. The firm has a market cap of $10.50 billion, a PE ratio of 20.59, a price-to-earnings-growth 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. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13. The business has a 50-day moving average price of $133.10 and a 200 day moving average price of $143.38.

ITT (NYSE:ITT - Get Free Report) last issued 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 return on equity of 18.03% and a net margin of 14.27%. Sell-side analysts expect 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 represents a $1.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from ITT's previous quarterly dividend of $0.32. ITT's payout ratio is currently 22.22%.

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.