ITT Inc. (NYSE:ITT) Stake Lifted by Vest Financial LLC

Vest Financial LLC increased its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 63.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,004 shares of the conglomerate's stock after buying an additional 6,626 shares during the quarter. Vest Financial LLC's holdings in ITT were worth $2,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in ITT during the third quarter valued at $26,000. Resources Management Corp CT ADV purchased a new stake in ITT during the third quarter valued at about $30,000. ORG Wealth Partners LLC bought a new position in shares of ITT during the fourth quarter valued at about $30,000. UMB Bank n.a. grew its stake in shares of ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate's stock valued at $35,000 after buying an additional 180 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of ITT by 232.2% during the third 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 last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ITT shares. TD Cowen raised their target price on ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. UBS Group upped their price objective on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Stifel Nicolaus lowered their price target on shares of ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Wolfe Research assumed coverage on ITT in a research report on Wednesday, December 11th. They issued a "peer perform" rating on the stock. Finally, StockNews.com downgraded ITT from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, ITT currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.38.

ITT Stock Performance

ITT stock traded down $0.32 during midday trading on Wednesday, reaching $145.38. The stock had a trading volume of 332,923 shares, compared to its average volume of 376,869. The stock has a market cap of $11.85 billion, a PE ratio of 23.08, a P/E/G ratio of 1.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.40. The firm has a fifty day simple moving average of $147.22 and a two-hundred day simple moving average of $145.00. ITT Inc. has a 52-week low of $118.95 and a 52-week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping 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 anticipate that ITT Inc. will post 6.33 EPS for the current year.

ITT Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.97%. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio is currently 20.32%.

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.