JPMorgan Chase & Co. cut its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,640,314 shares of the conglomerate's stock after selling 167,165 shares during the quarter. JPMorgan Chase & Co. owned approximately 6.92% of ITT worth $805,888,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate's stock worth $364,457,000 after acquiring an additional 26,133 shares during the period. Geode Capital Management LLC grew its holdings in ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate's stock worth $204,736,000 after buying an additional 8,223 shares in the last quarter. Boston Partners raised its stake in ITT by 7.0% during the 4th quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock valued at $132,915,000 after acquiring an additional 61,132 shares in the last quarter. Bank of New York Mellon Corp boosted its position in ITT by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate's stock worth $108,817,000 after acquiring an additional 3,727 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock worth $73,913,000 after purchasing an additional 3,424 shares in the last quarter. Institutional investors own 91.59% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ITT shares. UBS Group upped their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, February 7th. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Citigroup dropped their target price on ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Wolfe Research began coverage on ITT in a research report on Wednesday, December 11th. They set a "peer perform" rating on the stock. Finally, KeyCorp boosted their price objective on ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $170.29.
Check Out Our Latest Research Report on ITT
ITT Trading Up 1.1 %
Shares of NYSE:ITT traded up $1.39 during midday trading on Tuesday, reaching $130.55. The company had a trading volume of 484,302 shares, compared to its average volume of 405,363. The company has a fifty day simple moving average of $142.19 and a two-hundred day simple moving average of $146.08. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.
ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating 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%. Research analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.
ITT Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were given a dividend of $0.351 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. ITT's dividend payout ratio (DPR) is presently 22.22%.
About ITT
(
Free Report)
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.
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