Vest Financial LLC Acquires 6,626 Shares of ITT Inc. (NYSE:ITT)

Vest Financial LLC grew its stake in shares of ITT Inc. (NYSE:ITT) by 63.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,004 shares of the conglomerate’s stock after purchasing an additional 6,626 shares during the quarter. Vest Financial LLC’s holdings in ITT were worth $2,430,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its position in ITT by 1.1% in the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after purchasing an additional 26,133 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ITT by 0.6% in the third 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 during the period. Westfield Capital Management Co. LP increased its stake in shares of ITT by 4.3% in the third 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 during the period. Eagle Asset Management Inc. bought a new stake in ITT during the 3rd quarter valued at $67,503,000. Finally, Loomis Sayles & Co. L P boosted its position in ITT by 1.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 381,580 shares of the conglomerate’s stock valued at $57,050,000 after buying an additional 4,271 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

ITT has been the subject of a number of analyst reports. Wolfe Research assumed coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. TD Cowen boosted their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp increased their target price on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Robert W. Baird lowered their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Trading Down 0.2 %

ITT stock opened at $146.07 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 1.09. The stock has a market capitalization of $11.91 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41. The business’s fifty day moving average is $147.84 and its 200 day moving average is $144.84. ITT Inc. has a one year low of $118.58 and a one year high of $161.13.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share 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 predict that ITT Inc. will post 6.33 EPS for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is 20.32%.

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.