Williamson Legacy Group LLC Lowers Stake in ITT Inc. (NYSE:ITT)

Williamson Legacy Group LLC cut its holdings in shares of ITT Inc. (NYSE:ITT) by 19.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,525 shares of the conglomerate’s stock after selling 2,373 shares during the quarter. ITT accounts for 0.9% of Williamson Legacy Group LLC’s investment portfolio, making the stock its 21st largest position. Williamson Legacy Group LLC’s holdings in ITT were worth $1,361,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in ITT by 1.1% during the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after buying an additional 26,133 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after buying an additional 8,223 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in ITT by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock worth $108,817,000 after buying an additional 3,727 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after buying an additional 27,885 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in ITT during the 3rd quarter worth approximately $67,503,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Trading Up 0.3 %

NYSE ITT opened at $141.06 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The firm’s fifty day moving average price is $145.87 and its 200 day moving average price is $145.84. The company has a market capitalization of $11.48 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. ITT Inc. has a 12 month low of $121.01 and a 12 month high of $161.13.

ITT (NYSE:ITT) last posted its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating 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%. On average, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, March 6th. ITT’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ITT. UBS Group increased their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Wolfe Research began coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Stifel Nicolaus reduced 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. KeyCorp raised their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Citigroup reduced their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

ITT 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.