Wellington Management Group LLP Has $18.33 Million Stock Position in ITT Inc. (NYSE:ITT)

Wellington Management Group LLP trimmed its position in ITT Inc. (NYSE:ITT) by 28.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 153,646 shares of the conglomerate’s stock after selling 60,564 shares during the period. Wellington Management Group LLP owned 0.19% of ITT worth $18,333,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ITT. AdvisorNet Financial Inc raised its position in ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after purchasing an additional 204 shares during the last quarter. Bfsg LLC acquired a new position in shares of ITT in the fourth quarter valued at approximately $73,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in ITT in the 4th quarter valued at approximately $78,000. GAMMA Investing LLC acquired a new stake in ITT during the 4th quarter worth approximately $94,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in ITT by 3,528.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 907 shares of the conglomerate’s stock worth $108,000 after acquiring an additional 882 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Trading Down 1.7 %

NYSE:ITT opened at $128.57 on Wednesday. ITT Inc. has a 12 month low of $87.21 and a 12 month high of $140.20. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.68 and a beta of 1.44. The firm has a fifty day simple moving average of $131.72 and a two-hundred day simple moving average of $126.57.

ITT (NYSE:ITT) last posted its quarterly earnings results 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. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. During the same period in the prior year, the business earned $1.17 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts expect that ITT Inc. will post 5.85 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Monday, June 3rd. ITT’s payout ratio is currently 25.10%.

Analysts Set New Price Targets

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

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.