ITT Inc. (NYSE:ITT) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co cut its position in ITT Inc. (NYSE:ITT - Free Report) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,538 shares of the conglomerate's stock after selling 2,524 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.07% of ITT worth $8,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC boosted its position in shares of ITT by 6.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate's stock worth $626,000 after acquiring an additional 225 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of ITT in the 3rd quarter valued at about $64,000. Tidal Investments LLC lifted its holdings in shares of ITT by 12.4% in the 3rd quarter. Tidal Investments LLC now owns 6,487 shares of the conglomerate's stock valued at $970,000 after purchasing an additional 716 shares during the last quarter. GAMMA Investing LLC raised its stake in ITT by 17.7% during the 4th quarter. GAMMA Investing LLC now owns 1,533 shares of the conglomerate's stock valued at $219,000 after acquiring an additional 230 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in ITT during the 4th quarter valued at approximately $281,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Trading Up 0.1 %

Shares of ITT traded up $0.14 during mid-day trading on Monday, hitting $137.44. The company had a trading volume of 812,533 shares, compared to its average volume of 446,998. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $161.13. The business's 50-day simple moving average is $132.10 and its 200-day simple moving average is $142.94. The stock has a market cap of $11.13 billion, a PE ratio of 21.82, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

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

ITT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.02%. ITT's dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ITT shares. KeyCorp cut their target price on ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Citigroup reduced their target price on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group raised their price target on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Stifel Nicolaus reduced their price objective on ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com downgraded shares of ITT from a "buy" rating to a "hold" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.57.

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.