Blue Trust Inc. Lowers Stock Holdings in ITT Inc. (NYSE:ITT)

Blue Trust Inc. lessened its stake in shares of ITT Inc. (NYSE:ITT) by 74.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 376 shares of the conglomerate’s stock after selling 1,115 shares during the period. Blue Trust Inc.’s holdings in ITT were worth $54,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ITT. State Street Corp raised its position in ITT by 1.1% during the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after purchasing an additional 26,133 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $204,736,000 after acquiring an additional 8,223 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in ITT by 4.3% in the third quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after acquiring an additional 27,885 shares during the period. Eagle Asset Management Inc. bought a new position in ITT during the 3rd quarter worth about $67,503,000. Finally, Loomis Sayles & Co. L P increased its position in ITT by 1.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 381,580 shares of the conglomerate’s stock valued at $57,050,000 after purchasing an additional 4,271 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT opened at $140.92 on Wednesday. The company has a market cap of $11.47 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $145.95 and its 200-day moving average price is $145.83. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping 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, equities analysts anticipate that ITT Inc. will post 6.51 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. Shareholders 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 yield of 1.00%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

ITT has been the topic of a number of recent research reports. Wolfe Research assumed coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. TD Cowen lifted their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, KeyCorp increased their price target on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

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.