Prudential Financial Inc. lowered its position in ITT Inc. (NYSE:ITT - Free Report) by 39.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,613 shares of the conglomerate's stock after selling 83,338 shares during the period. Prudential Financial Inc. owned about 0.16% of ITT worth $18,376,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. M&T Bank Corp increased its stake in shares of ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate's stock valued at $797,000 after purchasing an additional 69 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in ITT by 0.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock valued at $1,641,000 after purchasing an additional 81 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of ITT by 10.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock valued at $183,000 after buying an additional 116 shares in the last quarter. Tectonic Advisors LLC raised its stake in shares of ITT by 4.2% during the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock worth $435,000 after buying an additional 123 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of ITT by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate's stock valued at $362,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.
ITT Price Performance
Shares of ITT stock traded up $0.47 during trading hours on Monday, reaching $129.18. The company had a trading volume of 982,203 shares, compared to its average volume of 404,925. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.89 and a beta of 1.42. The stock has a fifty day moving average of $142.19 and a 200-day moving average of $146.08.
ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, equities analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.
ITT Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be given a dividend of $0.351 per share. This is a boost from ITT's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, March 6th. ITT's dividend payout ratio (DPR) is presently 22.22%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They issued a "peer perform" rating for the company. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. UBS Group upped their price target 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. Citigroup lowered 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. Finally, KeyCorp increased their target price on ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.29.
Get Our Latest Report on ITT
ITT Company Profile
(
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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