Vestcor Inc Invests $675,000 in ITT Inc. (NYSE:ITT)

Vestcor Inc acquired a new position in ITT Inc. (NYSE:ITT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,723 shares of the conglomerate's stock, valued at approximately $675,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of ITT during the fourth quarter worth $73,762,000. Eagle Asset Management Inc. acquired a new stake in shares of ITT during the third quarter worth $67,503,000. Proficio Capital Partners LLC acquired a new stake in shares of ITT during the fourth quarter worth $19,345,000. TimesSquare Capital Management LLC grew its holdings in shares of ITT by 34.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 198,550 shares of the conglomerate's stock valued at $28,369,000 after buying an additional 50,384 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in ITT during the third quarter valued at $7,075,000. Institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ITT. Wolfe Research began coverage on ITT in a research report on Wednesday, December 11th. They set a "peer perform" rating on the stock. Stifel Nicolaus dropped their price target on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. StockNews.com raised ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Finally, UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ITT currently has an average rating of "Moderate Buy" and a consensus price target of $168.38.

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ITT Stock Down 1.4 %

Shares of NYSE ITT traded down $1.90 during mid-day trading on Thursday, reaching $134.93. 283,420 shares of the company traded hands, compared to its average volume of 385,502. 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 stock has a market cap of $10.98 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. The company's fifty day moving average is $143.85 and its two-hundred day moving average is $145.85. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share 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%. On average, analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. This is a boost from ITT's previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT's dividend payout ratio (DPR) 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.