SageView Advisory Group LLC Invests $247,000 in ITT Inc. (NYSE:ITT)

SageView Advisory Group LLC purchased a new position in shares of ITT Inc. (NYSE:ITT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,000 shares of the conglomerate’s stock, valued at approximately $247,000.

Several other hedge funds have also recently modified their holdings of the stock. Capital International Investors raised its position in shares of ITT by 0.3% during the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock worth $1,123,533,000 after purchasing an additional 29,057 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of ITT by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock worth $132,581,000 after purchasing an additional 14,857 shares during the last quarter. Norges Bank acquired a new stake in ITT in the 4th quarter valued at about $102,709,000. Fiduciary Management Inc. WI raised its holdings in ITT by 3.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 742,571 shares of the conglomerate’s stock valued at $88,604,000 after acquiring an additional 27,210 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in ITT by 6.7% in the 4th quarter. Westfield Capital Management Co. LP now owns 642,965 shares of the conglomerate’s stock valued at $76,719,000 after acquiring an additional 40,521 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

ITT stock opened at $129.92 on Friday. The firm has a 50 day simple moving average of $131.62 and a 200-day simple moving average of $125.99. ITT Inc. has a 1-year low of $85.92 and a 1-year high of $140.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. On average, analysts expect that ITT Inc. will post 5.85 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.319 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. ITT’s payout ratio is currently 25.10%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. KeyCorp increased their price objective on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Citigroup increased their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a report on Monday, April 8th. DA Davidson increased their price objective on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, UBS Group increased their price target on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $138.38.

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.