Eagle Ridge Investment Management Sells 12,818 Shares of ITT Inc. (NYSE:ITT)

Eagle Ridge Investment Management decreased its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,007 shares of the conglomerate's stock after selling 12,818 shares during the period. ITT comprises about 1.6% of Eagle Ridge Investment Management's portfolio, making the stock its 20th largest holding. Eagle Ridge Investment Management owned approximately 0.17% of ITT worth $16,706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ITT. Natixis Advisors L.P. lifted its holdings in shares of ITT by 28.7% in the 3rd quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate's stock worth $7,286,000 after purchasing an additional 16,614 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in ITT by 198.0% in the third quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate's stock valued at $6,302,000 after buying an additional 42,767 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of ITT by 17.0% during the fourth quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate's stock valued at $8,903,000 after acquiring an additional 10,853 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of ITT by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate's stock worth $169,581,000 after acquiring an additional 5,495 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of ITT by 46.6% in the 3rd quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate's stock worth $60,130,000 after acquiring an additional 195,111 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ITT Stock Up 1.0 %

NYSE:ITT traded up $1.35 during trading hours on Monday, reaching $132.55. 386,616 shares of the company's stock were exchanged, compared to its average volume of 353,862. The company has a market capitalization of $10.90 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43. ITT Inc. has a 12 month low of $75.82 and a 12 month high of $138.29. The business's 50-day simple moving average is $129.14 and its two-hundred day simple moving average is $117.99.

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

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from ITT's previous quarterly dividend of $0.29. ITT's dividend payout ratio (DPR) is 25.60%.

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.