Janus Henderson Group PLC Increases Stake in ITT Inc. (NYSE:ITT)

Janus Henderson Group PLC boosted its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 928,116 shares of the conglomerate's stock after acquiring an additional 11,980 shares during the period. Janus Henderson Group PLC owned 1.14% of ITT worth $132,611,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ITT. Oppenheimer Asset Management Inc. raised its holdings in ITT by 0.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate's stock valued at $1,641,000 after buying an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in ITT by 10.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock valued at $183,000 after buying an additional 116 shares during the last quarter. Tectonic Advisors LLC raised its holdings in ITT by 4.2% during the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate's stock valued at $435,000 after buying an additional 123 shares during the last quarter. CIBC Asset Management Inc raised its holdings in ITT by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate's stock valued at $362,000 after buying an additional 125 shares during the last quarter. Finally, Quarry LP raised its holdings in ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. KeyCorp upped their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus upped their price objective on shares of ITT from $148.00 to $161.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, UBS Group upped their target price on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.86.

ITT Stock Up 0.7%

Shares of NYSE:ITT traded up $1.02 during midday trading on Thursday, reaching $150.66. The company's stock had a trading volume of 494,572 shares, compared to its average volume of 451,154. The firm has a 50 day moving average of $133.11 and a 200-day moving average of $142.66. The firm has a market capitalization of $11.86 billion, a P/E ratio of 23.91, a PEG 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 Inc. has a 12-month low of $105.64 and a 12-month high of $161.13.

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

ITT Dividend Announcement

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a yield of 0.93%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio (DPR) is 22.26%.

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.