Federated Hermes Inc. Reduces Stake in ITT Inc. (NYSE:ITT)

Federated Hermes Inc. trimmed its position in shares of ITT Inc. (NYSE:ITT) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,741 shares of the conglomerate’s stock after selling 398 shares during the quarter. Federated Hermes Inc.’s holdings in ITT were worth $1,106,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ITT. Rialto Wealth Management LLC purchased a new stake in shares of ITT in the 4th quarter worth about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT in the fourth quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new stake in shares of ITT in the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC increased its stake in shares of ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 182 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of ITT by 291.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 309 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus dropped their price target on ITT from $179.00 to $148.00 and set a “buy” rating for the company in a research report on Monday. KeyCorp dropped their price objective on ITT from $170.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Citigroup reduced their target price on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, UBS Group upped their price objective on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.57.

ITT Price Performance

ITT opened at $126.88 on Tuesday. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company’s 50 day simple moving average is $135.38 and its 200 day simple moving average is $144.21. The stock has a market capitalization of $10.27 billion, a PE ratio of 20.14, a P/E/G ratio of 1.89 and a beta of 1.36.

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, 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%. As a group, sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 6th. ITT’s dividend payout ratio (DPR) is 22.22%.

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.