Zurcher Kantonalbank Zurich Cantonalbank Has $3.73 Million Position in ITT Inc. (NYSE:ITT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ITT Inc. (NYSE:ITT - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,110 shares of the conglomerate's stock after buying an additional 1,925 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ITT were worth $3,731,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of ITT in the fourth quarter worth approximately $73,762,000. Eagle Asset Management Inc. purchased a new stake in ITT in the 3rd quarter worth approximately $67,503,000. Proficio Capital Partners LLC acquired a new stake in shares of ITT during the 4th quarter valued at $19,345,000. TimesSquare Capital Management LLC grew its holdings in shares of ITT by 34.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 198,550 shares of the conglomerate's stock valued at $28,369,000 after acquiring an additional 50,384 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of ITT in the third quarter worth $7,075,000. Institutional investors own 91.59% of the company's stock.

ITT Stock Performance

ITT stock traded up $2.33 on Wednesday, reaching $136.73. 207,172 shares of the stock were exchanged, compared to its average volume of 444,023. 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 twelve month low of $121.01 and a twelve month high of $161.13. The firm has a fifty day moving average price of $143.97 and a two-hundred day moving average price of $145.92. The stock has a market cap of $11.13 billion, a PE ratio of 21.70, a PEG ratio of 1.89 and a beta of 1.42.

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ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company 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 represents a $1.40 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ITT. Stifel Nicolaus lowered 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. Citigroup dropped their price objective on ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a report on Monday, January 13th. UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. KeyCorp increased their price target on shares of ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Finally, Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a "peer perform" rating for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, ITT presently has an average rating of "Moderate Buy" and an average target price of $168.38.

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.