ITT Inc. (NYSE:ITT) Shares Sold by LGT Group Foundation

LGT Group Foundation lessened its holdings in ITT Inc. (NYSE:ITT - Free Report) by 51.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,910 shares of the conglomerate's stock after selling 18,156 shares during the period. LGT Group Foundation's holdings in ITT were worth $2,416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ITT. State Street Corp raised its holdings in ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate's stock valued at $364,457,000 after buying an additional 26,133 shares during the period. Geode Capital Management LLC raised its stake in shares of ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate's stock valued at $204,736,000 after acquiring an additional 8,223 shares during the period. Bank of New York Mellon Corp raised its stake in shares of ITT by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate's stock valued at $108,817,000 after acquiring an additional 3,727 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of ITT by 4.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate's stock worth $100,100,000 after acquiring an additional 27,885 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of ITT during the 3rd quarter worth approximately $67,503,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

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

ITT Stock Up 1.0 %

Shares of ITT stock traded up $1.32 on Friday, reaching $138.82. 541,546 shares of the company were exchanged, compared to its average volume of 425,269. The stock's 50 day moving average price is $145.31 and its 200-day moving average price is $145.90. 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 Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a market cap of $11.30 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT - Get Free Report) last posted 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%. As a group, equities analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. This is an increase from ITT's previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT's payout ratio is 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.