First Trust Advisors LP Raises Position in ITT Inc. (NYSE:ITT)

First Trust Advisors LP raised its stake in ITT Inc. (NYSE:ITT - Free Report) by 18.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 659,143 shares of the conglomerate's stock after buying an additional 103,198 shares during the period. First Trust Advisors LP owned about 0.81% of ITT worth $94,178,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Forum Financial Management LP bought a new stake in shares of ITT in the 4th quarter valued at $203,000. Capital International Ltd. CA boosted its position in shares of ITT by 6.7% during the 4th quarter. Capital International Ltd. CA now owns 28,888 shares of the conglomerate's stock valued at $4,128,000 after purchasing an additional 1,807 shares in the last quarter. Capital Group Investment Management PTE. LTD. grew its stake in ITT by 4.4% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 5,981 shares of the conglomerate's stock worth $855,000 after purchasing an additional 250 shares during the period. Capital International Sarl boosted its holdings in shares of ITT by 6.1% during the 4th quarter. Capital International Sarl now owns 53,731 shares of the conglomerate's stock worth $7,677,000 after buying an additional 3,080 shares in the last quarter. Finally, Dean Investment Associates LLC grew its position in shares of ITT by 4.5% during the 4th quarter. Dean Investment Associates LLC now owns 19,733 shares of the conglomerate's stock worth $2,819,000 after buying an additional 855 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ITT Stock Down 0.3 %

Shares of ITT stock traded down $0.35 on Friday, hitting $137.18. The stock had a trading volume of 832,166 shares, compared to its average volume of 444,684. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The business has a 50 day moving average of $132.34 and a 200 day moving average of $143.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were given 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 dividend yield of 1.02%. ITT's dividend payout ratio (DPR) is currently 22.22%.

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.