International Assets Investment Management LLC Takes Position in ITT Inc. (NYSE:ITT)

International Assets Investment Management LLC purchased a new position in shares of ITT Inc. (NYSE:ITT) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,313 shares of the conglomerate’s stock, valued at approximately $157,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bowen Hanes & Co. Inc. bought a new stake in shares of ITT in the 3rd quarter worth $26,087,000. Invesco Ltd. boosted its holdings in ITT by 46.6% during the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock worth $60,130,000 after purchasing an additional 195,111 shares during the last quarter. FMR LLC grew its position in ITT by 1.9% in the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock worth $742,319,000 after purchasing an additional 144,394 shares in the last quarter. Scopus Asset Management L.P. increased its stake in ITT by 127.3% in the 3rd quarter. Scopus Asset Management L.P. now owns 196,391 shares of the conglomerate’s stock valued at $19,229,000 after buying an additional 110,000 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of ITT during the 3rd quarter worth approximately $7,359,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on ITT shares. KeyCorp increased their price target on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. DA Davidson raised their target price on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Citigroup boosted their price target on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus increased their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, ITT has a consensus rating of “Buy” and an average target price of $135.57.

ITT Stock Performance

Shares of ITT stock opened at $131.20 on Monday. The stock has a market capitalization of $10.79 billion, a P/E ratio of 26.45, a P/E/G ratio of 1.80 and a beta of 1.43. ITT Inc. has a 52-week low of $75.82 and a 52-week high of $138.29. The stock’s 50-day simple moving average is $128.97 and its 200 day simple moving average is $117.76.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $829.10 million for the quarter, compared to analyst estimates of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Equities research analysts forecast that ITT Inc. will post 5.8 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.319 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s dividend payout ratio (DPR) is presently 25.81%.

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.