Everence Capital Management Inc. Invests $281,000 in ITT Inc. (NYSE:ITT)

Everence Capital Management Inc. purchased a new position in ITT Inc. (NYSE:ITT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,970 shares of the conglomerate’s stock, valued at approximately $281,000.

A number of other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in ITT by 17.7% in the fourth quarter. GAMMA Investing LLC now owns 1,533 shares of the conglomerate’s stock worth $219,000 after buying an additional 230 shares during the last quarter. Tidal Investments LLC lifted its position in ITT by 12.4% in the 3rd quarter. Tidal Investments LLC now owns 6,487 shares of the conglomerate’s stock valued at $970,000 after acquiring an additional 716 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in ITT during the 3rd quarter valued at $64,000. Sanctuary Advisors LLC increased its holdings in shares of ITT by 6.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate’s stock worth $626,000 after purchasing an additional 225 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after purchasing an additional 8,223 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Price Performance

NYSE ITT opened at $143.58 on Wednesday. The business’s fifty day moving average is $149.76 and its 200 day moving average is $142.40. ITT Inc. has a fifty-two week low of $114.24 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The company has a market capitalization of $11.70 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts predict that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, November 29th. ITT’s dividend payout ratio (DPR) is 21.67%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ITT shares. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. The Goldman Sachs Group boosted their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup raised their target price on shares of ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, December 9th. KeyCorp boosted their target price on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen raised their price target on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, ITT has a consensus rating of “Moderate Buy” and an average price target of $166.75.

ITT Company Profile

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.