Zacks Investment Management Reduces Position in ITT Inc. (NYSE:ITT)

Zacks Investment Management decreased its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 72.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,993 shares of the conglomerate's stock after selling 18,137 shares during the quarter. Zacks Investment Management's holdings in ITT were worth $999,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ITT. Norges Bank purchased a new position in shares of ITT in the fourth quarter worth $134,433,000. Raymond James Financial Inc. purchased a new position in shares of ITT in the fourth quarter worth $73,762,000. Alliancebernstein L.P. raised its stake in shares of ITT by 14.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock worth $195,256,000 after purchasing an additional 169,944 shares during the last quarter. Invesco Ltd. raised its stake in shares of ITT by 12.2% in the fourth quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock worth $222,947,000 after purchasing an additional 169,054 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in ITT during the fourth quarter valued at $19,345,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. KeyCorp reduced their price objective on ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup cut their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. UBS Group raised 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. Finally, Stifel Nicolaus cut their target price on shares of ITT from $179.00 to $148.00 and set a "buy" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.57.

ITT Trading Up 4.1 %

NYSE ITT traded up $5.38 on Thursday, hitting $137.65. 318,514 shares of the stock were exchanged, compared to its average volume of 556,101. The firm has a market capitalization of $11.15 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.89 and a beta of 1.36. ITT Inc. has a 52-week low of $105.64 and a 52-week 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. The stock has a fifty day moving average price of $132.79 and a two-hundred day moving average price of $143.30.

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

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were paid a $0.351 dividend. The ex-dividend date was Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. ITT's dividend payout ratio is 22.22%.

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.