Wedge Capital Management L L P NC Lowers Stock Holdings in ITT Inc. (NYSE:ITT)

Wedge Capital Management L L P NC decreased its stake in ITT Inc. (NYSE:ITT - Free Report) by 45.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,917 shares of the conglomerate's stock after selling 41,883 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.06% of ITT worth $5,956,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Signaturefd LLC boosted its stake in ITT by 8.2% in the 4th quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate's stock valued at $137,000 after buying an additional 87 shares in the last quarter. AIA Group Ltd boosted its stake in ITT by 104.4% in the fourth quarter. AIA Group Ltd now owns 19,411 shares of the conglomerate's stock worth $2,316,000 after purchasing an additional 9,914 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ITT by 3.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,772 shares of the conglomerate's stock worth $2,836,000 after purchasing an additional 822 shares in the last quarter. Eagle Bluffs Wealth Management LLC boosted its stake in ITT by 0.6% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 18,820 shares of the conglomerate's stock worth $2,246,000 after purchasing an additional 114 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new position in ITT in the fourth quarter worth $9,111,000. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup boosted their price objective on ITT from $139.00 to $157.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. StockNews.com downgraded ITT from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 6th. DA Davidson increased their price target on ITT from $140.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, March 26th. KeyCorp upped their price objective on ITT from $136.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Finally, Stifel Nicolaus upped their price objective on ITT from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $135.57.

ITT Trading Up 0.7 %

Shares of ITT traded up $0.94 during mid-day trading on Wednesday, reaching $130.48. The company's stock had a trading volume of 376,915 shares, compared to its average volume of 356,380. ITT Inc. has a 1-year low of $75.82 and a 1-year high of $138.29. The stock has a market cap of $10.73 billion, a P/E ratio of 26.12, a PEG ratio of 1.72 and a beta of 1.43. The business has a 50-day simple moving average of $128.57 and a two-hundred day simple moving average of $117.12.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.34. ITT had a return on equity of 17.91% and a net margin of 12.50%. The company had revenue of $829.10 million during the quarter, compared to analysts' expectations of $814.38 million. During the same period last year, the firm posted $1.29 earnings per share. The business's revenue was up 7.0% on a year-over-year basis. Research analysts anticipate that ITT Inc. will post 5.8 EPS for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.319 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. This is a positive change from ITT's previous quarterly dividend of $0.29. ITT's dividend payout ratio (DPR) is 25.81%.

ITT Company 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.