Fisher Asset Management LLC Sells 28,527 Shares of ITT Inc. (NYSE:ITT)

Fisher Asset Management LLC reduced its stake in ITT Inc. (NYSE:ITT) by 23.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,947 shares of the conglomerate’s stock after selling 28,527 shares during the period. Fisher Asset Management LLC owned 0.11% of ITT worth $10,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITT. AdvisorNet Financial Inc increased its position in shares of ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after acquiring an additional 204 shares in the last quarter. Bfsg LLC bought a new stake in shares of ITT during the fourth quarter worth about $73,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of ITT during the fourth quarter worth about $78,000. GAMMA Investing LLC bought a new stake in shares of ITT during the fourth quarter worth about $94,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of ITT by 3,528.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 907 shares of the conglomerate’s stock worth $108,000 after acquiring an additional 882 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Stock Up 2.0 %

ITT opened at $130.95 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.67 and a beta of 1.44. ITT Inc. has a twelve month low of $85.92 and a twelve month high of $140.20. The company’s 50-day moving average price is $131.64 and its two-hundred day moving average price is $125.96.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 earnings per share. As a group, equities analysts expect that ITT Inc. will post 5.85 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, June 3rd. ITT’s dividend payout ratio (DPR) is currently 25.10%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ITT shares. Citigroup boosted their target price on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. KeyCorp boosted their price target on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. DA Davidson boosted their price target on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. UBS Group boosted their price target on shares of ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Stifel Nicolaus boosted their price target on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT has a consensus rating of “Buy” and a consensus target price of $138.38.

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.