ITT Inc. (NYSE:ITT) Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its position in shares of ITT Inc. (NYSE:ITT) by 72.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 23,371 shares of the conglomerate’s stock after selling 62,539 shares during the quarter. Candriam S.C.A.’s holdings in ITT were worth $3,339,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. Capital Performance Advisors LLP acquired a new position in shares of ITT in the 3rd quarter valued at about $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT in the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC acquired a new position in shares of ITT in the 4th quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new position in shares of ITT in the 4th quarter valued at about $34,000. Finally, Private Trust Co. NA lifted its holdings in shares of ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after buying an additional 209 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ITT shares. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Citigroup decreased their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wolfe Research started coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. Stifel Nicolaus cut their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, KeyCorp lifted their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $168.38.

ITT Price Performance

Shares of ITT stock opened at $138.82 on Friday. The business has a 50 day simple moving average of $145.22 and a two-hundred day simple moving average of $146.01. ITT Inc. has a 12 month low of $121.01 and a 12 month high of $161.13. The stock has a market capitalization of $11.30 billion, a P/E ratio of 22.04, a PEG ratio of 1.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT) last announced 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 return on equity of 18.03% and a net margin of 14.27%. As a group, analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is presently 22.22%.

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.