ITT Inc. (NYSE:ITT) Shares Purchased by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. raised its position in ITT Inc. (NYSE:ITT) by 4.4% during the 4th quarter, Holdings Channel reports. The firm owned 5,981 shares of the conglomerate’s stock after acquiring an additional 250 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in ITT were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its stake in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock valued at $1,641,000 after acquiring an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of ITT by 10.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock valued at $183,000 after purchasing an additional 116 shares in the last quarter. Tectonic Advisors LLC grew its position in shares of ITT by 4.2% in the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock valued at $435,000 after purchasing an additional 123 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of ITT by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock worth $362,000 after purchasing an additional 125 shares in the last quarter. Finally, Savant Capital LLC raised its position in shares of ITT by 3.5% during the 4th quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate’s stock worth $583,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Citigroup decreased their price objective on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday. Stifel Nicolaus cut their target price on shares of ITT from $179.00 to $148.00 and set a “buy” rating for the company in a research note on Monday. UBS Group upped their target price on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, KeyCorp lowered their price target on shares of ITT from $170.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.57.

ITT Stock Up 0.9 %

ITT opened at $127.93 on Friday. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13. The business has a 50-day moving average of $134.22 and a two-hundred day moving average of $143.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

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

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. The ex-dividend date was Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.10%. ITT’s payout ratio is currently 22.22%.

About ITT

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.