Retirement Systems of Alabama boosted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,562 shares of the conglomerate's stock after buying an additional 5,761 shares during the quarter. Retirement Systems of Alabama owned 0.26% of ITT worth $25,005,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of ITT by 1.9% in the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate's stock valued at $742,319,000 after purchasing an additional 144,394 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of ITT by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate's stock valued at $169,581,000 after purchasing an additional 5,495 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of ITT by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate's stock valued at $132,581,000 after purchasing an additional 14,857 shares during the last quarter. Invesco Ltd. increased its position in shares of ITT by 46.6% in the 3rd quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate's stock valued at $60,130,000 after purchasing an additional 195,111 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of ITT by 7.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 602,444 shares of the conglomerate's stock valued at $58,985,000 after buying an additional 40,612 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently commented on ITT. Citigroup increased their target price on shares of ITT from $139.00 to $157.00 and gave the company a "buy" rating in a research report on Monday, April 8th. DA Davidson increased their target price on shares of ITT from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, March 26th. Stifel Nicolaus increased their target price on shares of ITT from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, April 17th. KeyCorp increased their target price on shares of ITT from $136.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. Finally, StockNews.com downgraded shares of ITT from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 6th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $135.57.
Get Our Latest Research Report on ITT
ITT Stock Performance
ITT stock traded down $3.19 during midday trading on Tuesday, hitting $129.39. 401,367 shares of the company's stock were exchanged, compared to its average volume of 354,435. ITT Inc. has a 12-month low of $75.82 and a 12-month high of $138.29. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43. The firm's 50 day simple moving average is $129.14 and its 200 day simple moving average is $117.99.
ITT (NYSE:ITT - Get Free Report) last released its earnings results 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 company had revenue of $829.10 million during the quarter, compared to analysts' expectations of $814.38 million. During the same quarter last year, the business earned $1.29 EPS. The business's revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that ITT Inc. will post 5.8 EPS for the current fiscal 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 $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, March 7th. This is a boost from ITT's previous quarterly dividend of $0.29. ITT's dividend payout ratio (DPR) is 25.81%.
ITT Profile
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Free Report)
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.
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