ITT Inc. (NYSE:ITT) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in ITT Inc. (NYSE:ITT) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 517,307 shares of the conglomerate’s stock after purchasing an additional 3,424 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.63% of ITT worth $73,913,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its stake in shares of ITT by 99.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,191 shares of the conglomerate’s stock worth $313,000 after purchasing an additional 1,092 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of ITT by 63.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,006 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 390 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 309 shares in the last quarter. SVB Wealth LLC bought a new position in shares of ITT in the fourth quarter worth $385,000. Finally, Proficio Capital Partners LLC bought a new position in shares of ITT in the fourth quarter worth $19,345,000. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

ITT has been the subject of several recent analyst reports. Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus decreased their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. KeyCorp raised their target price on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $168.38.

ITT Trading Down 2.7 %

NYSE:ITT opened at $135.00 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. The stock has a fifty day simple moving average of $145.08 and a 200 day simple moving average of $146.09.

ITT (NYSE:ITT) last released its quarterly earnings results 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 return on equity of 18.03% and a net margin of 14.27%. Sell-side analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be given a $0.351 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.04%. ITT’s dividend payout ratio (DPR) is 22.22%.

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.