Gabelli Funds LLC Lowers Stock Position in ITT Inc. (NYSE:ITT)

Gabelli Funds LLC lowered its position in ITT Inc. (NYSE:ITT - Free Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 374,245 shares of the conglomerate's stock after selling 8,700 shares during the period. Gabelli Funds LLC owned about 0.46% of ITT worth $53,472,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ITT. Rialto Wealth Management LLC bought a new position in shares of ITT in the fourth quarter worth about $26,000. ORG Wealth Partners LLC purchased a new stake in ITT during the 4th quarter valued at approximately $30,000. Whipplewood Advisors LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC lifted its holdings 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 lifted its holdings in shares of ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock worth $59,000 after buying an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

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

ITT Price Performance

NYSE ITT traded up $1.15 on Friday, hitting $127.93. The company had a trading volume of 850,017 shares, compared to its average volume of 433,999. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The company's fifty day moving average price is $134.22 and its 200-day moving average price is $143.82. The company has a market capitalization of $10.36 billion, a PE ratio of 20.31, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results 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 return on equity of 18.03% and a net margin of 14.27%. As a group, analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. The ex-dividend date was Thursday, March 6th. This is an increase from ITT's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.10%. 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.