Natixis Purchases New Shares in ITT Inc. (NYSE:ITT)

Natixis purchased a new position in ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,293 shares of the conglomerate's stock, valued at approximately $1,042,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITT. Invesco Ltd. increased its holdings in shares of ITT by 12.2% in the 4th quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock worth $222,947,000 after buying an additional 169,054 shares during the last quarter. Alliancebernstein L.P. grew its position in 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 acquiring an additional 169,944 shares in the last quarter. Norges Bank bought a new position in shares of ITT during the 4th quarter valued at about $134,433,000. Boston Partners lifted its position in ITT by 7.0% in the 4th quarter. Boston Partners now owns 930,069 shares of the conglomerate's stock worth $132,915,000 after buying an additional 61,132 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in ITT by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate's stock worth $108,817,000 after buying an additional 3,727 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. KeyCorp reduced their target price on shares of ITT from $170.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus lowered their price target 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. StockNews.com downgraded ITT from a "buy" rating to a "hold" rating in a report on Friday. Finally, 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 research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $158.57.

ITT Price Performance

NYSE ITT traded down $1.07 during trading hours on Tuesday, reaching $136.36. The company's stock had a trading volume of 71,844 shares, compared to its average volume of 445,545. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.89 and a beta of 1.36. The firm's 50-day moving average price is $132.10 and its 200-day moving average price is $142.94.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results 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%. On average, equities research analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were paid a dividend of $0.351 per share. 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 1.03%. ITT's dividend payout ratio is presently 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.