AIA Group Ltd Acquires 9,914 Shares of ITT Inc. (NYSE:ITT)

AIA Group Ltd raised its position in ITT Inc. (NYSE:ITT - Free Report) by 104.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,411 shares of the conglomerate's stock after buying an additional 9,914 shares during the period. AIA Group Ltd's holdings in ITT were worth $2,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Select Equity Group L.P. purchased a new stake in shares of ITT during the fourth quarter worth about $106,328,000. Norges Bank purchased a new stake in shares of ITT during the fourth quarter worth about $64,598,000. Renaissance Technologies LLC purchased a new stake in shares of ITT during the first quarter worth about $35,055,000. Point72 Asset Management L.P. purchased a new stake in shares of ITT during the fourth quarter worth about $29,172,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of ITT by 58.4% during the first quarter. Goldman Sachs Group Inc. now owns 913,985 shares of the conglomerate's stock worth $68,741,000 after purchasing an additional 336,860 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Stock Down 0.1 %

NYSE:ITT traded down $0.17 on Friday, hitting $124.99. The stock had a trading volume of 393,538 shares, compared to its average volume of 357,732. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.71 and a beta of 1.43. The company has a fifty day moving average price of $128.26 and a two-hundred day moving average price of $116.20. ITT Inc. has a 1-year low of $75.82 and a 1-year high of $138.29.

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

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.319 dividend. This is a positive change from ITT's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Thursday, March 7th. ITT's dividend payout ratio is currently 25.81%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of ITT from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday. DA Davidson boosted their price target on shares of ITT from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, March 26th. Citigroup boosted their price target on shares of ITT from $139.00 to $157.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. KeyCorp boosted their price target on shares of ITT from $136.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Finally, StockNews.com lowered shares of ITT from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $135.57.

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.