Neuberger Berman Group LLC Sells 8,939 Shares of ITT Inc. (NYSE:ITT)

Neuberger Berman Group LLC lowered its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 146,650 shares of the conglomerate's stock after selling 8,939 shares during the period. Neuberger Berman Group LLC owned approximately 0.18% of ITT worth $20,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in ITT in the fourth quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new position in shares of ITT in the 4th quarter worth $30,000. Whipplewood Advisors LLC acquired a new stake in ITT in the 4th quarter valued at $34,000. V Square Quantitative Management LLC increased its stake in ITT by 79.1% during the 4th 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. Finally, Smartleaf Asset Management LLC raised its holdings in ITT by 291.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock worth $59,000 after buying an additional 309 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ITT. Stifel Nicolaus lowered their target price on shares of ITT from $179.00 to $148.00 and set a "buy" rating for the company in a report on Monday. UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Citigroup reduced their price objective on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research note on Monday. KeyCorp lowered their target price on ITT from $170.00 to $150.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com upgraded 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 issued a buy rating to the company. According to data from MarketBeat, ITT presently has a consensus rating of "Moderate Buy" and an average price target of $158.57.

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ITT Stock Performance

Shares of NYSE:ITT traded down $0.12 during midday trading on Tuesday, reaching $126.95. 767,176 shares of the company traded hands, compared to its average volume of 430,275. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm's fifty day moving average price is $135.38 and its two-hundred day moving average price is $144.21.

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, beating 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, equities analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, March 6th. This is a boost from ITT's previous quarterly dividend of $0.32. ITT's payout ratio is currently 22.22%.

About ITT

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.