ITT Inc. (NYSE:ITT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in ITT Inc. (NYSE:ITT) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,003 shares of the conglomerate’s stock after selling 4,000 shares during the period. New York State Common Retirement Fund owned 0.06% of ITT worth $6,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eagle Asset Management Inc. bought a new position in ITT during the 3rd quarter worth approximately $67,503,000. Erste Asset Management GmbH bought a new position in ITT during the third quarter worth $7,075,000. Polar Asset Management Partners Inc. lifted its stake in ITT by 68.9% during the third quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock worth $16,596,000 after purchasing an additional 45,300 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in ITT by 15.4% in the third quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock worth $45,827,000 after purchasing an additional 40,860 shares during the period. Finally, Regents Gate Capital LLP bought a new stake in ITT during the fourth quarter valued at $4,323,000. 91.59% of the stock is owned by institutional investors.

ITT Stock Up 1.1 %

Shares of ITT stock opened at $142.54 on Thursday. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a market capitalization of $11.60 billion, a P/E ratio of 22.62, a PEG ratio of 1.89 and a beta of 1.41. The business’s fifty day moving average price is $145.96 and its two-hundred day moving average price is $145.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 0.99%. ITT’s payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

ITT has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wolfe Research began coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. KeyCorp boosted their price objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, TD Cowen increased their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.