Ameriprise Financial Inc. Has $120.53 Million Stock Position in ITT Inc. (NYSE:ITT)

Ameriprise Financial Inc. lessened its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 843,566 shares of the conglomerate's stock after selling 89,264 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.03% of ITT worth $120,529,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ITT. Rialto Wealth Management LLC purchased a new position in ITT during the fourth quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new stake in shares of ITT during the 4th quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in shares of ITT during the 4th quarter valued at $34,000. Quarry LP increased its stake in shares of ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after acquiring an additional 125 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock worth $59,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Price Performance

ITT traded down $0.26 during midday trading on Friday, reaching $143.18. 332,796 shares of the company's stock were exchanged, compared to its average volume of 449,482. 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 business has a 50-day simple moving average of $132.10 and a two-hundred day simple moving average of $142.49. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. ITT Inc. has a one year low of $105.64 and a one year high of $161.13.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.44 by $0.01. ITT had a return on equity of 18.03% and a net margin of 14.27%. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. During the same quarter last year, the company earned $1.42 EPS. ITT's revenue was up .3% on a year-over-year basis. As a group, research analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a $0.351 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.98%. ITT's dividend payout ratio (DPR) is presently 22.26%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ITT shares. Citigroup cut their price objective on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. UBS Group lifted their price objective 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. KeyCorp increased their target price on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Stifel Nicolaus boosted their price target on ITT from $148.00 to $161.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, StockNews.com raised ITT from a "hold" rating to a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.86.

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.