Massachusetts Financial Services Co. MA Sells 8,079 Shares of ITT Inc. (NYSE:ITT)

Massachusetts Financial Services Co. MA lessened its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,723,929 shares of the conglomerate's stock after selling 8,079 shares during the period. Massachusetts Financial Services Co. MA owned about 2.10% of ITT worth $205,699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ITT. AdvisorNet Financial Inc raised its holdings in ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate's stock worth $48,000 after purchasing an additional 204 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of ITT by 81.7% during the 3rd quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate's stock valued at $54,000 after purchasing an additional 250 shares during the last quarter. Bfsg LLC bought a new position in ITT in the 4th quarter valued at $73,000. GAMMA Investing LLC bought a new position in shares of ITT during the 4th quarter worth $94,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of ITT by 3,528.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 907 shares of the conglomerate's stock worth $108,000 after purchasing an additional 882 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup raised their price objective on ITT from $139.00 to $157.00 and gave the company a "buy" rating in a report on Monday, April 8th. Stifel Nicolaus lifted their price objective on ITT from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. UBS Group boosted their target price on ITT from $135.00 to $158.00 and gave the stock a "buy" rating in a research note on Wednesday, May 8th. DA Davidson boosted their target price on ITT from $140.00 to $155.00 and gave the company a "buy" rating in a report on Tuesday, March 26th. Finally, KeyCorp increased their price objective on shares of ITT from $136.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $138.38.

ITT Price Performance

ITT stock traded up $1.70 during mid-day trading on Wednesday, reaching $139.22. 454,352 shares of the company were exchanged, compared to its average volume of 380,737. ITT Inc. has a 12 month low of $75.82 and a 12 month high of $139.60. The company has a fifty day simple moving average of $131.06 and a 200-day simple moving average of $121.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The firm has a market cap of $11.46 billion, a PE ratio of 27.30, a PEG ratio of 1.82 and a beta of 1.43.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 EPS. As a group, equities research analysts expect that ITT Inc. will post 5.83 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.319 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 0.92%. ITT's dividend payout ratio (DPR) is 24.90%.

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.