Gamco Investors INC. ET AL Trims Position in ITT Inc. (NYSE:ITT)

Gamco Investors INC. ET AL lessened its stake in ITT Inc. (NYSE:ITT - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 283,148 shares of the conglomerate's stock after selling 5,818 shares during the quarter. Gamco Investors INC. ET AL owned 0.35% of ITT worth $40,456,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in ITT during the 4th quarter worth approximately $134,433,000. Raymond James Financial Inc. acquired a new stake in ITT in the fourth quarter valued at $73,762,000. Alliancebernstein L.P. lifted its holdings in ITT by 14.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock worth $195,256,000 after buying an additional 169,944 shares during the last quarter. Invesco Ltd. boosted its position in shares of ITT by 12.2% during the 4th quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock worth $222,947,000 after acquiring an additional 169,054 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of ITT in the 4th quarter valued at about $19,345,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. KeyCorp cut their price target on shares of ITT from $170.00 to $150.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup decreased their price objective on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group lifted their target price on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $158.57.

ITT Price Performance

Shares of NYSE ITT traded up $1.15 during trading on Friday, hitting $127.93. 850,017 shares of the company were exchanged, compared to its average volume of 434,642. 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 1 year low of $105.64 and a 1 year high of $161.13. The firm's fifty day moving average price is $133.86 and its 200 day moving average price is $143.65. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results 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%. On average, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.10%. 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 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.