ITT Inc. (NYSE:ITT) is Paradice Investment Management LLC’s 8th Largest Position

Paradice Investment Management LLC reduced its holdings in ITT Inc. (NYSE:ITT) by 28.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,705 shares of the conglomerate’s stock after selling 69,445 shares during the period. ITT comprises about 5.0% of Paradice Investment Management LLC’s holdings, making the stock its 8th largest holding. Paradice Investment Management LLC’s holdings in ITT were worth $25,105,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its position in ITT by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock worth $308,000 after purchasing an additional 1,936 shares during the last quarter. CIBC Asset Management Inc increased its position in ITT by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock worth $362,000 after purchasing an additional 125 shares during the last quarter. Everhart Financial Group Inc. increased its position in ITT by 8.0% in the 4th quarter. Everhart Financial Group Inc. now owns 8,302 shares of the conglomerate’s stock worth $1,186,000 after purchasing an additional 617 shares during the last quarter. Rhumbline Advisers increased its position in ITT by 0.6% in the 4th quarter. Rhumbline Advisers now owns 221,315 shares of the conglomerate’s stock worth $31,621,000 after purchasing an additional 1,222 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in ITT by 79.1% in the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 182 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ITT shares. TD Cowen upped their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group increased their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Stifel Nicolaus lowered their price objective on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ITT has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Stock Performance

ITT stock opened at $147.58 on Tuesday. The business’s 50-day moving average price is $146.77 and its two-hundred day moving average price is $145.18. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08. The firm has a market cap of $12.03 billion, a PE ratio of 23.43, a P/E/G ratio of 1.80 and a beta of 1.41. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13.

ITT (NYSE:ITT) last issued its quarterly 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, research analysts forecast that ITT Inc. will post 6.33 earnings per share for the current year.

ITT Increases Dividend

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

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.