Candriam S.C.A. Cuts Holdings in ITT Inc. (NYSE:ITT)

Candriam S.C.A. lowered its position in ITT Inc. (NYSE:ITT - Free Report) by 72.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,371 shares of the conglomerate's stock after selling 62,539 shares during the period. Candriam S.C.A.'s holdings in ITT were worth $3,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in shares of ITT by 0.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 28,891 shares of the conglomerate's stock valued at $4,320,000 after buying an additional 191 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of ITT during the 3rd quarter worth $26,000. Atria Investments Inc increased its position in shares of ITT by 3.4% during the 3rd quarter. Atria Investments Inc now owns 4,912 shares of the conglomerate's stock worth $734,000 after purchasing an additional 163 shares during the last quarter. Round Rock Advisors LLC raised its holdings in ITT by 0.4% in the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate's stock valued at $3,038,000 after buying an additional 90 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in ITT by 12.0% in the third quarter. TimesSquare Capital Management LLC now owns 148,166 shares of the conglomerate's stock valued at $22,152,000 after buying an additional 15,830 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ITT. Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They issued a "peer perform" rating on the stock. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Stifel Nicolaus cut their price target on shares of ITT from $180.00 to $179.00 and set a "buy" rating for the company in a report on Friday, January 24th. KeyCorp lifted their price objective on ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Finally, Citigroup reduced their target price on ITT from $183.00 to $181.00 and set a "buy" rating for the company in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $168.38.

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ITT Price Performance

Shares of ITT traded down $1.58 during mid-day trading on Wednesday, reaching $132.29. 436,964 shares of the company's stock were exchanged, compared to its average volume of 434,037. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $144.90 and a two-hundred day simple moving average of $146.05. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.89 and a beta of 1.42.

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 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 predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio is currently 22.22%.

ITT Company 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.