ITT Inc. (NYSE:ITT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in ITT Inc. (NYSE:ITT - Free Report) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,891 shares of the conglomerate's stock after selling 16,066 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of ITT worth $8,843,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock valued at $73,913,000 after acquiring an additional 3,424 shares during the last quarter. Algert Global LLC raised its position in ITT by 101.2% in the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate's stock valued at $2,696,000 after purchasing an additional 9,070 shares during the period. AlphaQuest LLC lifted its stake in shares of 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 purchasing an additional 3,403 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of ITT by 880.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock worth $308,000 after purchasing an additional 1,936 shares during the period. Finally, ING Groep NV acquired a new stake in shares of ITT during the 4th quarter worth about $1,214,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ITT. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They issued a "peer perform" rating on the stock. UBS Group lifted their target price on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 7th. KeyCorp upped their price target on ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus dropped their price objective on ITT from $180.00 to $179.00 and set a "buy" rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $168.38.

Remove Ads

ITT Stock Down 0.3 %

Shares of ITT stock traded down $0.45 during trading hours on Tuesday, reaching $139.42. 334,752 shares of the company were exchanged, compared to its average volume of 387,817. The firm has a market cap of $11.35 billion, a PE ratio of 22.13, a PEG ratio of 1.89 and a beta of 1.42. The stock's fifty day moving average is $143.53 and its 200 day moving average is $146.07. ITT Inc. has a 1 year low of $121.01 and a 1 year 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.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, equities research analysts forecast 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. Stockholders 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 dividend yield of 1.01%. The ex-dividend date is Thursday, March 6th. ITT's payout ratio is 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.