Invesco Ltd. Purchases 169,054 Shares of ITT Inc. (NYSE:ITT)

Invesco Ltd. increased its position in ITT Inc. (NYSE:ITT - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,560,381 shares of the conglomerate's stock after purchasing an additional 169,054 shares during the period. Invesco Ltd. owned 1.91% of ITT worth $222,947,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ITT. Rialto Wealth Management LLC purchased a new position in ITT during the fourth quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in ITT in the 4th quarter worth about $30,000. Whipplewood Advisors LLC bought a new stake in ITT during the 4th quarter valued at about $34,000. V Square Quantitative Management LLC lifted its stake in shares of ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock worth $59,000 after buying an additional 182 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of ITT by 291.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after acquiring an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ITT. UBS Group lifted their target price on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, February 7th. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Stifel Nicolaus lowered their target price on shares of ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a research note on Monday. KeyCorp dropped their price target on shares of ITT from $170.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup lowered their price objective on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $158.57.

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ITT Stock Performance

NYSE ITT traded down $0.12 during trading hours on Tuesday, hitting $126.95. 767,194 shares of the company's stock traded hands, compared to its average volume of 430,275. 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 firm has a market capitalization of $10.28 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.89 and a beta of 1.36. The business's fifty day moving average price is $135.38 and its two-hundred day moving average price is $144.21.

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, beating 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%. Equities research analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were paid a $0.351 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.11%. This is an increase from ITT's previous quarterly dividend of $0.32. 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.