Mitsubishi UFJ Trust & Banking Corp increased its holdings in ITT Inc. (NYSE:ITT - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,465 shares of the conglomerate's stock after purchasing an additional 5,594 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in ITT were worth $5,067,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC purchased a new stake in ITT in the 4th quarter valued at about $26,000. Resources Management Corp CT ADV purchased a new stake in ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new stake in ITT in the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new position in ITT during the fourth quarter worth approximately $34,000. Finally, Private Trust Co. NA boosted its holdings in shares of ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate's stock valued at $45,000 after purchasing an additional 209 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ITT has been the subject of a number of research analyst reports. Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They set a "peer perform" rating for the company. Citigroup cut 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. Stifel Nicolaus decreased their target price on ITT from $180.00 to $179.00 and set a "buy" rating for the company in a report on Friday, January 24th. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Finally, UBS Group boosted their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $170.29.
Check Out Our Latest Research Report on ITT
ITT Stock Down 5.5 %
ITT stock traded down $6.53 during midday trading on Friday, hitting $113.03. 1,313,825 shares of the company were exchanged, compared to its average volume of 411,776. The company has a market cap of $9.20 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The company's fifty day moving average price is $139.91 and its 200-day moving average price is $145.63. ITT Inc. has a fifty-two week low of $109.63 and a fifty-two week high of $161.13. 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 (NYSE:ITT - Get Free Report) last posted its 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%. On average, research analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.
ITT Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from ITT's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.24%. ITT's dividend payout ratio (DPR) is currently 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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