Massachusetts Financial Services Co. MA Has $154.06 Million Position in ITT Inc. (NYSE:ITT)

Massachusetts Financial Services Co. MA lessened its holdings in ITT Inc. (NYSE:ITT - Free Report) by 18.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,078,235 shares of the conglomerate's stock after selling 245,105 shares during the period. Massachusetts Financial Services Co. MA owned about 1.32% of ITT worth $154,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in ITT in the 4th quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT in the third quarter worth $30,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT during the fourth quarter worth $30,000. Whipplewood Advisors LLC acquired a new stake in ITT during the fourth quarter valued at $34,000. Finally, V Square Quantitative Management LLC grew its stake in ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group increased their target price on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. KeyCorp lowered their price objective on ITT from $170.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday. Wolfe Research began coverage on ITT in a research report on Wednesday, December 11th. They set a "peer perform" rating for the company. Citigroup dropped their price target on shares of ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $167.43.

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ITT Stock Performance

NYSE:ITT traded down $4.07 on Thursday, hitting $121.33. The company's stock had a trading volume of 382,030 shares, compared to its average volume of 419,215. ITT Inc. has a one year low of $105.64 and a one year high of $161.13. The stock has a fifty day moving average of $136.83 and a two-hundred day moving average of $144.75. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $9.88 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping analysts' consensus estimates 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 business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were issued a dividend of $0.351 per share. This is a positive change from ITT's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Thursday, March 6th. ITT's dividend payout ratio is 22.22%.

ITT Company 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.