State of Alaska Department of Revenue Has $1.33 Million Stock Holdings in ITT Inc. (NYSE:ITT)

State of Alaska Department of Revenue lowered its stake in ITT Inc. (NYSE:ITT) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,296 shares of the conglomerate’s stock after selling 250 shares during the period. State of Alaska Department of Revenue’s holdings in ITT were worth $1,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bleakley Financial Group LLC increased its position in ITT by 21.2% during the 4th quarter. Bleakley Financial Group LLC now owns 3,498 shares of the conglomerate’s stock valued at $500,000 after purchasing an additional 611 shares during the period. Tectonic Advisors LLC raised its position in shares of ITT by 4.2% during the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock valued at $435,000 after buying an additional 123 shares in the last quarter. Trust Point Inc. grew its position in shares of ITT by 45.6% in the 4th quarter. Trust Point Inc. now owns 3,261 shares of the conglomerate’s stock worth $466,000 after buying an additional 1,022 shares during the last quarter. JB Capital LLC raised its stake in ITT by 7.8% during the fourth quarter. JB Capital LLC now owns 12,028 shares of the conglomerate’s stock valued at $1,718,000 after buying an additional 873 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in shares of ITT during the fourth quarter valued at $229,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $145.38 on Thursday. The business has a fifty day simple moving average of $147.22 and a 200-day simple moving average of $145.00. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT Inc. has a 12 month low of $118.95 and a 12 month high of $161.13. The stock has a market cap of $11.85 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that ITT Inc. will post 6.33 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is 20.32%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ITT shares. UBS Group lifted their target price 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. TD Cowen upped their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday. Wolfe Research initiated coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Finally, Robert W. Baird dropped their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and an average price target of $168.38.

ITT 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.