Raymond James Financial Inc. Purchases Shares of 516,251 ITT Inc. (NYSE:ITT)

Raymond James Financial Inc. purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 516,251 shares of the conglomerate's stock, valued at approximately $73,762,000. Raymond James Financial Inc. owned about 0.63% of ITT as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in ITT in the 3rd quarter valued at $26,000. Resources Management Corp CT ADV acquired a new position in ITT in the 3rd quarter valued at $30,000. ORG Wealth Partners LLC acquired a new position in ITT in the 4th quarter valued at $30,000. Whipplewood Advisors LLC purchased a new stake in shares of ITT during the 4th quarter valued at $34,000. Finally, Private Trust Co. NA grew its stake in shares of ITT by 232.2% during the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate's stock valued at $45,000 after buying an additional 209 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Up 1.0 %

Shares of ITT stock opened at $138.82 on Monday. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13. 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 stock has a market cap of $11.30 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. The company has a fifty day moving average price of $145.22 and a 200 day moving average price of $146.09.

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ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a $0.351 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITT. Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They set a "peer perform" rating for the company. KeyCorp boosted their price objective on shares of ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Citigroup lowered their price objective on shares of ITT from $183.00 to $181.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Finally, 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $168.38.

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.

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