Russell Investments Group Ltd. Has $7.60 Million Holdings in ITT Inc. (NYSE:ITT)

Russell Investments Group Ltd. trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,187 shares of the conglomerate’s stock after selling 601 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of ITT worth $7,599,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ITT. Payden & Rygel raised its position in shares of ITT by 32.7% in the fourth quarter. Payden & Rygel now owns 154,100 shares of the conglomerate’s stock valued at $22,018,000 after purchasing an additional 38,000 shares during the period. Wells Fargo & Company MN raised its holdings in ITT by 4.3% in the 4th quarter. Wells Fargo & Company MN now owns 135,284 shares of the conglomerate’s stock worth $19,330,000 after acquiring an additional 5,605 shares during the period. ExodusPoint Capital Management LP lifted its position in ITT by 1,921.9% during the 4th quarter. ExodusPoint Capital Management LP now owns 69,170 shares of the conglomerate’s stock worth $9,883,000 after acquiring an additional 65,749 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in ITT by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock valued at $195,256,000 after acquiring an additional 169,944 shares during the period. Finally, AIA Group Ltd acquired a new stake in shares of ITT in the fourth quarter valued at about $236,000. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Citigroup lowered their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. UBS Group raised their price objective on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. KeyCorp cut their target price on ITT from $170.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $167.43.

ITT Stock Performance

NYSE:ITT opened at $125.40 on Friday. The firm has a 50 day moving average of $135.84 and a 200-day moving average of $144.42. The stock has a market capitalization of $10.21 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13.

ITT (NYSE:ITT) last announced its 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, sell-side 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 was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is 22.22%.

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.