Victory Capital Management Inc. Sells 27,983 Shares of ITT Inc. (NYSE:ITT)

Victory Capital Management Inc. lessened its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 9.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 278,533 shares of the conglomerate's stock after selling 27,983 shares during the period. Victory Capital Management Inc. owned 0.34% of ITT worth $39,797,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Eagle Asset Management Inc. bought a new stake in shares of ITT during the third quarter worth $67,503,000. Algert Global LLC grew its holdings in shares of ITT by 101.2% during the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate's stock worth $2,696,000 after purchasing an additional 9,070 shares during the last quarter. Pier 88 Investment Partners LLC grew its holdings in shares of ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate's stock worth $4,161,000 after purchasing an additional 20,270 shares during the last quarter. Vest Financial LLC grew its holdings in shares of ITT by 63.8% during the fourth quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate's stock worth $2,430,000 after purchasing an additional 6,626 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in ITT by 35.3% in the fourth quarter. Van ECK Associates Corp now owns 70,366 shares of the conglomerate's stock valued at $10,054,000 after acquiring an additional 18,370 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com upgraded ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a report on Monday, January 13th. KeyCorp raised their price target on ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. UBS Group raised their price target on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, ITT currently has an average rating of "Moderate Buy" and a consensus target price of $168.38.

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ITT Stock Performance

Shares of NYSE ITT opened at $138.82 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock's fifty day moving average price is $145.22 and its two-hundred day moving average price is $146.01. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 1.89 and a beta of 1.42.

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

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a dividend of $0.351 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.01%. This is a boost from ITT's previous quarterly dividend of $0.32. 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.

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