ITT Inc. (NYSE:ITT) Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its holdings in shares of ITT Inc. (NYSE:ITT) by 63.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,006 shares of the conglomerate’s stock after buying an additional 390 shares during the period. Jones Financial Companies Lllp’s holdings in ITT were worth $144,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ITT. Resources Management Corp CT ADV acquired a new stake in shares of ITT during the third quarter worth about $30,000. ORG Wealth Partners LLC acquired a new stake in shares of ITT during the fourth quarter worth about $30,000. Whipplewood Advisors LLC acquired a new stake in shares of ITT during the fourth quarter worth about $34,000. Private Trust Co. NA lifted its position in shares of ITT by 232.2% during the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock worth $45,000 after purchasing an additional 209 shares in the last quarter. Finally, Coastline Trust Co acquired a new stake in ITT in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $135.12 on Friday. The firm has a market capitalization of $11.00 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.89 and a beta of 1.42. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $144.29 and its two-hundred day moving average is $145.83.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating 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 forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The firm 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 1.04%. ITT’s dividend payout ratio (DPR) is 22.22%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ITT. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Wolfe Research began coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Citigroup reduced their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus reduced their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, UBS Group raised 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

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.