ITT Inc. (NYSE:ITT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its position in ITT Inc. (NYSE:ITT) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 221,315 shares of the conglomerate’s stock after acquiring an additional 1,222 shares during the period. Rhumbline Advisers owned about 0.27% of ITT worth $31,621,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in ITT in the 3rd quarter worth about $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC purchased a new position in shares of ITT during the 4th quarter valued at approximately $30,000. Private Trust Co. NA grew its stake in ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 209 shares during the period. Finally, Coastline Trust Co purchased a new stake in ITT in the 3rd quarter worth $48,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Up 1.4 %

ITT opened at $149.61 on Wednesday. The business’s 50 day moving average price is $146.68 and its 200 day moving average price is $145.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.40. The stock has a market capitalization of $12.19 billion, a PE ratio of 23.75, a P/E/G ratio of 1.80 and a beta of 1.41. ITT Inc. has a one year low of $121.01 and a one year high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, equities research analysts expect that ITT Inc. will post 6.33 EPS for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. The ex-dividend date is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.94%. ITT’s dividend payout ratio (DPR) is currently 20.32%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. KeyCorp raised their price target on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Robert W. Baird decreased their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Citigroup cut their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group boosted their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, TD Cowen increased their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.38.

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.