Williamson Legacy Group LLC Lowers Stake in ITT Inc. (NYSE:ITT)

Williamson Legacy Group LLC decreased its position in ITT Inc. (NYSE:ITT) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,525 shares of the conglomerate’s stock after selling 2,373 shares during the period. ITT comprises 0.9% of Williamson Legacy Group LLC’s portfolio, making the stock its 21st largest holding. Williamson Legacy Group LLC’s holdings in ITT were worth $1,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ITT. Private Advisor Group LLC boosted its holdings in shares of ITT by 74.5% in the third quarter. Private Advisor Group LLC now owns 8,043 shares of the conglomerate’s stock valued at $1,202,000 after acquiring an additional 3,435 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of ITT by 16,832.5% in the third 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 in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of ITT by 9.1% in the third quarter. Assenagon Asset Management S.A. now owns 16,400 shares of the conglomerate’s stock valued at $2,452,000 after acquiring an additional 1,372 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of ITT by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 9,546 shares of the conglomerate’s stock valued at $1,427,000 after acquiring an additional 640 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of ITT by 22.9% in the third quarter. First Trust Direct Indexing L.P. now owns 2,350 shares of the conglomerate’s stock valued at $351,000 after acquiring an additional 438 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT opened at $141.06 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a market cap of $11.48 billion, a P/E ratio of 22.39, a PEG ratio of 1.89 and a beta of 1.41. The company has a 50-day moving average of $145.87 and a two-hundred day moving average of $145.84. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (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%. As a group, research analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently announced 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 of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.00%. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is presently 22.22%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ITT shares. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. KeyCorp raised their price objective 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. Citigroup reduced their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average 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.