Invesco Ltd. Raises Position in ITT Inc. (NYSE:ITT)

Invesco Ltd. grew its holdings in shares of ITT Inc. (NYSE:ITT) by 12.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,560,381 shares of the conglomerate’s stock after buying an additional 169,054 shares during the period. Invesco Ltd.’s holdings in ITT were worth $222,947,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Rialto Wealth Management LLC bought a new position in ITT in the 4th quarter worth about $26,000. ORG Wealth Partners LLC purchased a new position in ITT in the 4th quarter worth approximately $30,000. Whipplewood Advisors LLC purchased a new stake in ITT during the 4th quarter valued at $34,000. V Square Quantitative Management LLC increased its holdings in shares of 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 in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 309 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of NYSE:ITT opened at $125.40 on Friday. The company has a market capitalization of $10.21 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.89 and a beta of 1.36. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $161.13. The firm’s 50 day simple moving average is $135.84 and its two-hundred day simple moving average is $144.42. 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 released its earnings results 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%. Research analysts expect that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were issued a dividend of $0.351 per share. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, March 6th. ITT’s dividend payout ratio (DPR) is 22.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ITT shares. UBS Group increased their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Citigroup reduced their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Stifel Nicolaus dropped their target price 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. Finally, KeyCorp decreased their target price on shares of ITT from $170.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.43.

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.