ING Groep NV Acquires New Position in ITT Inc. (NYSE:ITT)

ING Groep NV bought a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,500 shares of the conglomerate's stock, valued at approximately $1,214,000.

Several other large investors have also added to or reduced their stakes in ITT. M&T Bank Corp lifted its position in ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate's stock valued at $797,000 after acquiring an additional 69 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of ITT by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate's stock worth $360,000 after purchasing an additional 87 shares during the last quarter. Round Rock Advisors LLC lifted its holdings in shares of ITT by 0.4% in the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate's stock valued at $3,038,000 after purchasing an additional 90 shares in the last quarter. Tectonic Advisors LLC boosted its position in shares of ITT by 4.2% during the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock valued at $435,000 after buying an additional 123 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in ITT by 3.5% during the fourth quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate's stock worth $583,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp raised their price objective on ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. UBS Group boosted their price target on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Wolfe Research assumed coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a "peer perform" rating for the company. Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Finally, Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a "buy" rating for the company in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, ITT has an average rating of "Moderate Buy" and an average price target of $168.38.

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ITT Stock Performance

NYSE:ITT traded down $2.03 during trading hours on Thursday, reaching $140.59. The stock had a trading volume of 266,698 shares, compared to its average volume of 394,634. The stock has a market cap of $11.44 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. The stock has a 50 day simple moving average of $145.96 and a 200 day simple moving average of $145.81. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13.

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, research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

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