Handelsbanken Fonder AB Purchases 2,900 Shares of ITT Inc. (NYSE:ITT)

Handelsbanken Fonder AB increased its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 17.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,900 shares of the conglomerate's stock after acquiring an additional 2,900 shares during the quarter. Handelsbanken Fonder AB's holdings in ITT were worth $2,843,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ITT. Capital Performance Advisors LLP acquired a new position in shares of ITT in the third quarter valued at $26,000. Resources Management Corp CT ADV acquired a new position in ITT in the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC acquired a new position in ITT in the 4th quarter valued at about $30,000. Private Trust Co. NA lifted its position in ITT by 232.2% during the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate's stock worth $45,000 after acquiring an additional 209 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in ITT during the third quarter worth approximately $48,000. Institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ITT. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Wolfe Research began coverage on ITT in a report on Wednesday, December 11th. They set a "peer perform" rating for the company. KeyCorp upped their price target on shares of ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Robert W. Baird dropped their price objective on shares of ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, TD Cowen increased their target price on shares of ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $168.38.

ITT Price Performance

Shares of NYSE ITT traded up $0.19 during midday trading on Tuesday, reaching $140.92. 614,598 shares of the company were exchanged, compared to its average volume of 397,669. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The stock has a market cap of $11.47 billion, a P/E ratio of 22.37, a PEG ratio of 1.89 and a beta of 1.41. The stock's 50-day moving average price is $146.12 and its 200-day moving average price is $145.78.

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

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.00%. This is a positive change from ITT's previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT's dividend payout ratio (DPR) is 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.