T. Rowe Price Investment Management Inc. Has $133.06 Million Position in ITT Inc. (NYSE:ITT)

T. Rowe Price Investment Management Inc. boosted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 63.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 931,240 shares of the conglomerate's stock after acquiring an additional 360,123 shares during the period. T. Rowe Price Investment Management Inc. owned 1.14% of ITT worth $133,056,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock worth $73,913,000 after purchasing an additional 3,424 shares during the period. Venturi Wealth Management LLC raised its stake in ITT by 880.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock worth $308,000 after buying an additional 1,936 shares during the period. AlphaQuest LLC lifted its holdings in ITT by 422.7% during the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock worth $601,000 after acquiring an additional 3,403 shares in the last quarter. ING Groep NV acquired a new position in ITT in the fourth quarter valued at about $1,214,000. Finally, Intech Investment Management LLC increased its holdings in shares of ITT by 218.0% in the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock worth $2,008,000 after acquiring an additional 9,633 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

ITT Stock Down 1.3 %

ITT stock traded down $1.78 during mid-day trading on Wednesday, reaching $135.11. The company had a trading volume of 131,854 shares, compared to its average volume of 446,349. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13. The stock has a 50 day simple moving average of $131.88 and a two-hundred day simple moving average of $142.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, equities analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a $0.351 dividend. This is a positive change from ITT's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.04%. ITT's dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ITT. KeyCorp decreased their price objective on ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus lowered their price objective on shares of ITT from $179.00 to $148.00 and set a "buy" rating for the company in a research report on Monday, April 14th. StockNews.com cut shares of ITT from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Citigroup lowered their target price on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, UBS Group upped their price objective on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, ITT has an average rating of "Moderate Buy" and a consensus price target of $158.57.

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.