ITT Inc. (NYSE:ITT) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in shares of ITT Inc. (NYSE:ITT) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,245 shares of the conglomerate’s stock after selling 8,700 shares during the period. Gabelli Funds LLC’s holdings in ITT were worth $53,472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock worth $73,913,000 after acquiring an additional 3,424 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of ITT by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock worth $308,000 after buying an additional 1,936 shares during the period. AlphaQuest LLC raised its position in ITT by 422.7% during the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock valued at $601,000 after buying an additional 3,403 shares during the period. ING Groep NV purchased a new position in ITT during the 4th quarter valued at about $1,214,000. Finally, Intech Investment Management LLC increased its holdings in shares of ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate’s stock valued at $2,008,000 after purchasing an additional 9,633 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus cut their target price on shares of ITT from $179.00 to $148.00 and set a “buy” rating for the company in a research report on Monday. UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup dropped their price objective on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday. KeyCorp cut their price target on shares of ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and an average price target of $158.57.

ITT Price Performance

Shares of ITT stock opened at $126.88 on Tuesday. The company has a market capitalization of $10.27 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13. The stock has a 50 day moving average of $135.38 and a two-hundred day moving average of $144.21.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 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, equities analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.11%. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, March 6th. ITT’s dividend payout ratio is 22.22%.

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.