Fulton Bank N.A. Increases Position in ITT Inc. (NYSE:ITT)

Fulton Bank N.A. boosted its holdings in ITT Inc. (NYSE:ITT) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,431 shares of the conglomerate’s stock after purchasing an additional 189 shares during the period. Fulton Bank N.A.’s holdings in ITT were worth $490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of ITT during the third quarter worth approximately $26,000. Resources Management Corp CT ADV bought a new position in ITT during the 3rd quarter valued at $30,000. UMB Bank n.a. grew its holdings in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of ITT in the 2nd quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of ITT in the 2nd quarter valued at about $36,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Trading Down 0.5 %

NYSE:ITT opened at $142.78 on Friday. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. ITT Inc. has a 1 year low of $114.24 and a 1 year high of $161.13. The business has a fifty day moving average of $149.77 and a 200-day moving average of $142.41.

ITT (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. ITT’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 EPS. Equities analysts predict that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a dividend of $0.319 per share. The ex-dividend date was Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.89%. ITT’s payout ratio is 21.67%.

Analyst Upgrades and Downgrades

ITT has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. KeyCorp raised their price objective on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group boosted their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.75.

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.