Courier Capital LLC Invests $228,000 in ITT Inc. (NYSE:ITT)

Courier Capital LLC acquired a new position in shares of ITT Inc. (NYSE:ITT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,908 shares of the conglomerate’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITT. Sendero Wealth Management LLC lifted its position in ITT by 10.7% in the 4th quarter. Sendero Wealth Management LLC now owns 3,871 shares of the conglomerate’s stock valued at $462,000 after acquiring an additional 375 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in ITT in the 4th quarter valued at $212,000. Pacer Advisors Inc. lifted its stake in ITT by 53.3% during the 4th quarter. Pacer Advisors Inc. now owns 18,945 shares of the conglomerate’s stock valued at $2,261,000 after acquiring an additional 6,587 shares in the last quarter. Raymond James & Associates grew its stake in shares of ITT by 17.0% in the 4th quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate’s stock worth $8,903,000 after acquiring an additional 10,853 shares in the last quarter. Finally, Everhart Financial Group Inc. grew its stake in shares of ITT by 34.0% in the 4th quarter. Everhart Financial Group Inc. now owns 5,618 shares of the conglomerate’s stock worth $670,000 after acquiring an additional 1,427 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Stock Down 0.2 %

Shares of NYSE:ITT opened at $136.85 on Thursday. The firm has a market capitalization of $11.24 billion, a PE ratio of 27.59, a P/E/G ratio of 1.89 and a beta of 1.42. ITT Inc. has a twelve month low of $75.82 and a twelve month high of $138.29. The company has a 50-day moving average price of $125.45 and a two-hundred day moving average price of $112.68.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. During the same period last year, the firm earned $1.29 EPS. ITT’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts anticipate that ITT Inc. will post 5.76 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be issued a $0.319 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, March 7th. ITT’s dividend payout ratio (DPR) is presently 25.81%.

Analysts Set New Price Targets

ITT has been the subject of several recent analyst reports. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Citigroup upped their target price on shares of ITT from $122.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Stifel Nicolaus upped their target price on shares of ITT from $122.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, DA Davidson increased their price target on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $124.57.

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.