Ramirez Asset Management Inc. Has $1.23 Million Stock Position in ITT Inc. (NYSE:ITT)

Ramirez Asset Management Inc. grew its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 290.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,578 shares of the conglomerate's stock after buying an additional 6,380 shares during the quarter. Ramirez Asset Management Inc.'s holdings in ITT were worth $1,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ITT. M&T Bank Corp increased its stake in ITT by 1.3% during the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate's stock worth $797,000 after buying an additional 69 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of ITT by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock worth $1,641,000 after acquiring an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in ITT by 10.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock valued at $183,000 after purchasing an additional 116 shares during the last quarter. Tectonic Advisors LLC increased its holdings in ITT by 4.2% during the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock worth $435,000 after purchasing an additional 123 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of ITT by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate's stock valued at $362,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

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ITT Price Performance

Shares of ITT traded up $1.50 during midday trading on Tuesday, reaching $130.66. The stock had a trading volume of 171,145 shares, compared to its average volume of 404,225. The firm's 50 day moving average price is $142.19 and its 200-day moving average price is $146.08. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. The company has a market capitalization of $10.64 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. On average, analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from ITT's previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 6th. ITT's dividend payout ratio (DPR) is presently 22.22%.

Analysts Set New Price Targets

Several analysts recently issued reports on ITT shares. Wolfe Research began coverage on shares of 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 report on Thursday, February 13th. KeyCorp boosted 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. Stifel Nicolaus reduced their target price on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Finally, UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued 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 price target of $170.29.

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.