Assenagon Asset Management S.A. Sells 47,430 Shares of ITT Inc. (NYSE:ITT)

Assenagon Asset Management S.A. cut its stake in ITT Inc. (NYSE:ITT - Free Report) by 73.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,934 shares of the conglomerate's stock after selling 47,430 shares during the quarter. Assenagon Asset Management S.A.'s holdings in ITT were worth $2,021,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Sendero Wealth Management LLC grew its position in shares of ITT by 10.7% in the fourth quarter. Sendero Wealth Management LLC now owns 3,871 shares of the conglomerate's stock valued at $462,000 after purchasing an additional 375 shares in the last quarter. Simon Quick Advisors LLC purchased a new position in shares of ITT in the fourth quarter valued at $212,000. Pacer Advisors Inc. grew its position in shares of ITT by 53.3% in the fourth quarter. Pacer Advisors Inc. now owns 18,945 shares of the conglomerate's stock valued at $2,261,000 after purchasing an additional 6,587 shares in the last quarter. Raymond James & Associates grew its position in ITT by 17.0% during the fourth quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate's stock worth $8,903,000 after buying an additional 10,853 shares in the last quarter. Finally, Everhart Financial Group Inc. grew its position in ITT by 34.0% during the fourth quarter. Everhart Financial Group Inc. now owns 5,618 shares of the conglomerate's stock worth $670,000 after buying an additional 1,427 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Price Performance

ITT stock traded up $1.06 during mid-day trading on Friday, hitting $132.62. 330,618 shares of the stock were exchanged, compared to its average volume of 363,203. The business has a fifty day moving average price of $127.31 and a 200 day moving average price of $114.20. ITT Inc. has a 12 month low of $75.82 and a 12 month high of $138.29. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 1.81 and a beta of 1.43.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. ITT had a return on equity of 17.91% and a net margin of 12.50%. The firm had revenue of $829.10 million during the quarter, compared to analyst estimates of $814.38 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company's revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that ITT Inc. will post 5.79 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from ITT's previous quarterly dividend of $0.29. ITT's payout ratio is 25.81%.

Analyst Ratings Changes

Several equities analysts recently commented on ITT shares. DA Davidson boosted their target price on ITT from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, March 26th. StockNews.com cut ITT from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 6th. Stifel Nicolaus boosted their target price on ITT from $122.00 to $131.00 and gave the stock a "buy" rating in a research report on Tuesday, December 19th. Finally, Citigroup boosted their target price on ITT from $122.00 to $134.00 and gave the stock a "buy" rating in a research report on Monday, December 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $124.57.

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.