ITT Inc. (NYSE:ITT) Shares Bought by Suncoast Equity Management

Suncoast Equity Management increased its stake in ITT Inc. (NYSE:ITT) by 11.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,595 shares of the conglomerate’s stock after buying an additional 1,225 shares during the period. Suncoast Equity Management’s holdings in ITT were worth $1,657,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ITT. State Street Corp boosted its holdings in shares of ITT by 1.1% in the 3rd 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 raised its position in ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after purchasing an additional 8,223 shares during the period. Westfield Capital Management Co. LP lifted its position 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 acquiring an additional 27,885 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of ITT during the third quarter worth $67,503,000. Finally, Loomis Sayles & Co. L P lifted its holdings in ITT by 1.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 381,580 shares of the conglomerate’s stock worth $57,050,000 after buying an additional 4,271 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ITT. Robert W. Baird decreased their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Wolfe Research initiated coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. KeyCorp increased their target price on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, TD Cowen lifted their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $168.38.

ITT Stock Down 1.3 %

Shares of NYSE:ITT opened at $147.87 on Friday. The firm has a 50 day simple moving average of $146.51 and a 200 day simple moving average of $145.37. The company has a market cap of $12.04 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.91 and a beta of 1.41. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.95%. ITT’s payout ratio is presently 20.32%.

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.