ITT Inc. (NYSE:ITT) Shares Sold by Shelton Capital Management

Shelton Capital Management lowered its position in ITT Inc. (NYSE:ITT) by 6.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,083 shares of the conglomerate’s stock after selling 199 shares during the quarter. Shelton Capital Management’s holdings in ITT were worth $440,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ITT. Rialto Wealth Management LLC purchased a new stake in shares of ITT during the fourth quarter worth about $26,000. Resources Management Corp CT ADV acquired a new position in ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new position in ITT in the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new position in shares of ITT during the fourth quarter worth approximately $34,000. Finally, V Square Quantitative Management LLC boosted its position in shares of ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after buying an additional 182 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

Shares of ITT stock opened at $125.01 on Thursday. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company has a 50-day simple moving average of $136.83 and a 200 day simple moving average of $144.75. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings data 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%. On average, sell-side analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is presently 22.22%.

Analyst Ratings Changes

Several research analysts have issued reports on ITT shares. Wolfe Research started coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Stifel Nicolaus dropped their price target on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. KeyCorp dropped their price target on ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, ITT has an average rating of “Moderate Buy” and a consensus target price of $167.43.

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.