ITT Inc. (NYSE:ITT) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its stake in shares of ITT Inc. (NYSE:ITT) by 0.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 209,576 shares of the conglomerate’s stock after selling 1,684 shares during the quarter. ITT accounts for approximately 1.2% of Leeward Investments LLC MA’s investment portfolio, making the stock its 17th biggest holding. Leeward Investments LLC MA’s holdings in ITT were worth $25,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ITT. Bowen Hanes & Co. Inc. acquired a new position in ITT during the third quarter valued at $26,087,000. Invesco Ltd. lifted its position in ITT by 46.6% during the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock valued at $60,130,000 after purchasing an additional 195,111 shares during the period. FMR LLC lifted its position in ITT by 1.9% during the third quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock valued at $742,319,000 after purchasing an additional 144,394 shares during the period. Scopus Asset Management L.P. lifted its position in ITT by 127.3% during the third quarter. Scopus Asset Management L.P. now owns 196,391 shares of the conglomerate’s stock valued at $19,229,000 after purchasing an additional 110,000 shares during the period. Finally, Cookson Peirce & Co. Inc. acquired a new position in ITT during the fourth quarter valued at $9,111,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on ITT. Stifel Nicolaus boosted their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. KeyCorp lifted their price objective on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. DA Davidson lifted their price objective on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, Citigroup lifted their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $135.57.

ITT Stock Performance

ITT opened at $131.10 on Friday. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.78 and a beta of 1.43. The company has a fifty day moving average of $128.97 and a two-hundred day moving average of $117.52. ITT Inc. has a fifty-two week low of $75.82 and a fifty-two week high of $138.29.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $829.10 million during the quarter, compared to analysts’ expectations of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. On average, equities research analysts forecast that ITT Inc. will post 5.8 earnings per share for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.319 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. This is a boost from ITT’s previous quarterly dividend of $0.29. ITT’s payout ratio is currently 25.81%.

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.