Retirement Systems of Alabama Acquires 5,761 Shares of ITT Inc. (NYSE:ITT)

Retirement Systems of Alabama raised its holdings in shares of ITT Inc. (NYSE:ITT) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 209,562 shares of the conglomerate’s stock after buying an additional 5,761 shares during the period. Retirement Systems of Alabama owned about 0.26% of ITT worth $25,005,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. IFP Advisors Inc grew its stake in shares of ITT by 63.4% during the 3rd quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 118 shares during the period. AdvisorNet Financial Inc boosted its position in shares of ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after purchasing an additional 204 shares during the period. Clearstead Advisors LLC boosted its position in shares of ITT by 81.7% in the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock worth $54,000 after purchasing an additional 250 shares during the period. Bfsg LLC purchased a new stake in shares of ITT in the fourth quarter worth $73,000. Finally, GAMMA Investing LLC bought a new stake in shares of ITT during the 4th quarter valued at $94,000. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

Shares of ITT opened at $132.55 on Tuesday. The stock has a market capitalization of $10.90 billion, a PE ratio of 26.72, a P/E/G ratio of 1.80 and a beta of 1.43. The company’s fifty day moving average is $129.14 and its 200 day moving average is $117.99. ITT Inc. has a fifty-two week low of $75.82 and a fifty-two week high of $138.29.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $829.10 million for 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 business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.29 EPS. As a group, research analysts forecast that ITT Inc. will post 5.8 earnings per share for the current year.

ITT Increases Dividend

The firm 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. This is a boost from ITT’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. ITT’s dividend payout ratio is currently 25.81%.

Wall Street Analyst Weigh In

A number of research firms have commented on ITT. StockNews.com cut ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. KeyCorp upped their price target on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note 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 research report on Tuesday, March 26th. Citigroup upped their target price on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $135.57.

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.