Leeward Investments LLC MA Cuts Stake in ITT Inc. (NYSE:ITT)

Leeward Investments LLC MA trimmed its position in shares of ITT Inc. (NYSE:ITT) by 17.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 161,517 shares of the conglomerate’s stock after selling 33,941 shares during the quarter. ITT comprises about 1.1% of Leeward Investments LLC MA’s holdings, making the stock its 19th biggest holding. Leeward Investments LLC MA’s holdings in ITT were worth $23,078,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Eagle Asset Management Inc. purchased a new stake in ITT during the 3rd quarter valued at about $67,503,000. International Assets Investment Management LLC boosted its holdings in shares of ITT by 16,832.5% during the 3rd quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after acquiring an additional 13,971 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of ITT by 46.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after acquiring an additional 30,320 shares during the last quarter. Algert Global LLC boosted its holdings in shares of ITT by 101.2% during the 3rd quarter. Algert Global LLC now owns 18,034 shares of the conglomerate’s stock valued at $2,696,000 after acquiring an additional 9,070 shares during the last quarter. Finally, Pier 88 Investment Partners LLC boosted its holdings in shares of ITT by 268.1% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock valued at $4,161,000 after acquiring an additional 20,270 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ITT has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. TD Cowen raised their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Wolfe Research assumed coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, KeyCorp increased their price objective on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.38.

ITT Price Performance

Shares of NYSE:ITT opened at $141.85 on Friday. The firm’s 50 day moving average price is $146.34 and its 200-day moving average price is $145.60. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $11.55 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS 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%. Equities research analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. ITT’s dividend payout ratio (DPR) is presently 20.32%.

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.