Northern Trust Corp Grows Stock Holdings in ITT Inc. (NYSE:ITT)

Northern Trust Corp lifted its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 33.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 755,915 shares of the conglomerate's stock after acquiring an additional 188,794 shares during the period. Northern Trust Corp owned 0.93% of ITT worth $108,005,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock worth $73,913,000 after buying an additional 3,424 shares during the period. Venturi Wealth Management LLC raised its holdings in ITT by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock valued at $308,000 after buying an additional 1,936 shares in the last quarter. AlphaQuest LLC raised its position in shares of ITT by 422.7% in the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock valued at $601,000 after purchasing an additional 3,403 shares during the period. ING Groep NV acquired a new stake in ITT in the 4th quarter valued at approximately $1,214,000. Finally, Intech Investment Management LLC lifted its stake in shares of ITT by 218.0% in the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock valued at $2,008,000 after buying an additional 9,633 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ITT. UBS Group increased their price objective on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Citigroup cut 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. 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 research note on Friday. StockNews.com cut shares of ITT from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, KeyCorp lifted their target price on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $161.86.

ITT Price Performance

Shares of NYSE ITT traded down $1.20 during trading hours on Tuesday, hitting $142.09. 554,195 shares of the stock were exchanged, compared to its average volume of 451,771. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $161.13. The company has a market cap of $11.50 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The company's fifty day simple moving average is $131.78 and its two-hundred day simple moving average is $142.54.

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, topping the consensus estimate of $1.44 by $0.01. The business had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. ITT's revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the company earned $1.42 EPS. On average, sell-side analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, June 2nd. ITT's dividend payout ratio (DPR) is presently 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.