Mawer Investment Management Ltd. cut its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 361,805 shares of the conglomerate's stock after selling 16,147 shares during the quarter. Mawer Investment Management Ltd. owned about 0.44% of ITT worth $51,695,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of ITT by 0.7% during the 4th 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 during the last quarter. AlphaQuest LLC grew its holdings in ITT by 422.7% in the 4th 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 increased its stake in shares of ITT by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock worth $308,000 after acquiring an additional 1,936 shares during the last quarter. ING Groep NV purchased a new position in shares of ITT during the 4th quarter worth $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 valued at $2,430,000 after acquiring an additional 6,626 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.
Analysts Set New Price Targets
Several research firms have weighed in on ITT. KeyCorp boosted their target price on shares of ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a "buy" rating for the company in a research report on Monday, January 13th. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Stifel Nicolaus cut their price objective on ITT from $180.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, January 24th. 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, ITT currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.29.
Check Out Our Latest Stock Analysis on ITT
ITT Trading Down 8.1 %
ITT traded down $10.82 during mid-day trading on Thursday, hitting $122.62. 268,283 shares of the stock were exchanged, compared to its average volume of 405,199. The firm's fifty day moving average is $141.34 and its two-hundred day moving average is $145.97. ITT Inc. has a 1-year low of $121.00 and a 1-year high of $161.13. The company has a market cap of $9.98 billion, a PE ratio of 19.46, a PEG ratio of 1.89 and a beta of 1.42. 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 (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 net margin of 14.27% and a return on equity of 18.03%. Equities analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.
ITT Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 represents a $1.40 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio is currently 22.22%.
ITT Profile
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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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