ITT Inc. (NYSE:ITT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of ITT Inc. (NYSE:ITT) by 6.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 141,421 shares of the conglomerate’s stock after selling 9,109 shares during the period. California Public Employees Retirement System’s holdings in ITT were worth $20,206,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after purchasing an additional 26,133 shares in the last quarter. Geode Capital Management LLC increased its position in shares of ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after purchasing an additional 8,223 shares during the period. Norges Bank bought a new stake in shares of ITT in the 4th quarter worth $134,433,000. Boston Partners lifted its holdings in shares of ITT by 7.0% in the fourth quarter. Boston Partners now owns 930,069 shares of the conglomerate’s stock valued at $132,915,000 after buying an additional 61,132 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in ITT by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock valued at $108,817,000 after buying an additional 3,727 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. KeyCorp upped their price target on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Citigroup cut their target price 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. Wolfe Research started coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, UBS Group raised their price objective on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.29.

ITT Trading Down 10.5 %

ITT stock opened at $119.49 on Friday. ITT Inc. has a 52 week low of $118.84 and a 52 week high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a 50 day moving average price of $140.67 and a 200 day moving average price of $145.78.

ITT (NYSE:ITT) last issued its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping 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%. Research analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 6th. ITT’s dividend payout ratio is 22.22%.

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.