KLP Kapitalforvaltning AS Invests $2.39 Million in ITT Inc. (NYSE:ITT)

KLP Kapitalforvaltning AS bought a new stake in ITT Inc. (NYSE:ITT - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,700 shares of the conglomerate's stock, valued at approximately $2,386,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of ITT by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock valued at $73,913,000 after purchasing an additional 3,424 shares in the last quarter. AlphaQuest LLC raised its stake in ITT by 422.7% in the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock valued at $601,000 after buying an additional 3,403 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in ITT by 880.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock worth $308,000 after buying an additional 1,936 shares during the last quarter. ING Groep NV purchased a new stake in ITT during the 4th quarter worth about $1,214,000. Finally, Vest Financial LLC boosted its position in shares of ITT by 63.8% during the 4th quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate's stock worth $2,430,000 after acquiring an additional 6,626 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ITT shares. Stifel Nicolaus decreased their target price on ITT from $180.00 to $179.00 and set a "buy" rating for the company in a research note on Friday, January 24th. KeyCorp boosted their price objective on shares of ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. UBS Group boosted their price target 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. Finally, 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $170.29.

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ITT Stock Performance

NYSE ITT traded up $2.04 during trading on Tuesday, reaching $131.20. The company's stock had a trading volume of 758,688 shares, compared to its average volume of 406,446. The business's fifty day moving average price is $141.74 and its 200-day moving average price is $146.05. ITT Inc. has a twelve month low of $121.01 and a twelve month 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. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.89 and a beta of 1.42.

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

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a $0.351 dividend. This is a boost from ITT's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, March 6th. ITT's payout ratio is currently 22.22%.

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.