Westfield Capital Management Co. LP Lowers Holdings in ITT Inc. (NYSE:ITT)

Westfield Capital Management Co. LP decreased its stake in ITT Inc. (NYSE:ITT - Free Report) by 14.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 635,419 shares of the conglomerate's stock after selling 107,510 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.81% of ITT worth $82,071,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ITT. LPL Financial LLC boosted its stake in shares of ITT by 3.1% in the fourth quarter. LPL Financial LLC now owns 43,192 shares of the conglomerate's stock worth $6,171,000 after buying an additional 1,316 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in ITT by 10.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 11,436 shares of the conglomerate's stock worth $1,634,000 after purchasing an additional 1,055 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in ITT by 227.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 917 shares of the conglomerate's stock worth $131,000 after purchasing an additional 637 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in ITT by 10.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,366 shares of the conglomerate's stock worth $624,000 after purchasing an additional 407 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in ITT by 4.3% during the fourth quarter. Wells Fargo & Company MN now owns 135,284 shares of the conglomerate's stock worth $19,330,000 after purchasing an additional 5,605 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Price Performance

Shares of ITT stock opened at $163.96 on Monday. The business has a 50 day simple moving average of $155.77 and a two-hundred day simple moving average of $145.05. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $170.16. The stock has a market capitalization of $12.79 billion, a P/E ratio of 25.78, a PEG ratio of 2.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%. The firm had revenue of $972.40 million during the quarter, compared to analysts' expectations of $947.48 million. During the same quarter last year, the firm earned $1.49 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be issued a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is currently 22.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ITT. The Goldman Sachs Group increased their price target on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Stifel Nicolaus increased their price target on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a research report on Friday. Citigroup reiterated a "buy" rating and set a $186.00 price target (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Bank of America increased their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, ITT presently has a consensus rating of "Moderate Buy" and an average price target of $177.88.

ITT 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.

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