Independent Advisor Alliance Raises Stock Position in ITT Inc. (NYSE:ITT)

Independent Advisor Alliance raised its stake in shares of ITT Inc. (NYSE:ITT) by 20.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,684 shares of the conglomerate’s stock after acquiring an additional 461 shares during the period. Independent Advisor Alliance’s holdings in ITT were worth $384,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its holdings in shares of ITT by 1.1% during the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after purchasing an additional 26,133 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 last quarter. Bank of New York Mellon Corp boosted its holdings in shares of ITT by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock valued at $108,817,000 after purchasing an additional 3,727 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock valued at $100,100,000 after purchasing an additional 27,885 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of ITT by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock valued at $73,913,000 after purchasing an additional 3,424 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wolfe Research assumed coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. UBS Group increased their price target on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus lowered their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, KeyCorp increased 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, ITT currently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Up 1.4 %

Shares of NYSE ITT opened at $136.79 on Tuesday. 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 company has a market cap of $11.13 billion, a P/E ratio of 21.71, a PEG ratio of 1.89 and a beta of 1.42. ITT Inc. has a 1 year low of $121.01 and a 1 year high of $161.13. The firm has a 50-day simple moving average of $144.16 and a two-hundred day simple moving average of $145.95.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. Research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.03%. ITT’s dividend payout ratio (DPR) 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.