Vident Advisory LLC Decreases Holdings in ITT Inc. (NYSE:ITT)

Vident Advisory LLC decreased its stake in ITT Inc. (NYSE:ITT - Free Report) by 69.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,033 shares of the conglomerate's stock after selling 6,930 shares during the period. Vident Advisory LLC's holdings in ITT were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ITT. Norges Bank acquired a new stake in shares of ITT in the fourth quarter valued at about $134,433,000. Raymond James Financial Inc. acquired a new stake in shares of ITT in the fourth quarter valued at about $73,762,000. T. Rowe Price Investment Management Inc. increased its stake in shares of ITT by 63.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock valued at $133,056,000 after buying an additional 360,123 shares during the period. Select Equity Group L.P. increased its stake in shares of ITT by 7.7% in the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock valued at $652,237,000 after buying an additional 326,947 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of ITT in the fourth quarter valued at about $27,614,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ITT. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Citigroup decreased their target price on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. The Goldman Sachs Group raised their target price on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, Stifel Nicolaus raised their target price on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $165.50.

ITT Stock Down 0.3%

Shares of NYSE:ITT traded down $0.52 during mid-day trading on Friday, hitting $150.52. 478,217 shares of the company traded hands, compared to its average volume of 451,643. The stock has a market cap of $11.85 billion, a P/E ratio of 23.89, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The stock has a 50-day moving average price of $136.46 and a two-hundred day moving average price of $142.75.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. The company had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. ITT's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. On average, equities research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $0.351 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.93%. ITT's payout ratio is 22.26%.

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.