Truist Financial Corp Sells 625 Shares of ITT Inc. (NYSE:ITT)

Truist Financial Corp cut its position in shares of ITT Inc. (NYSE:ITT) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,935 shares of the conglomerate’s stock after selling 625 shares during the period. Truist Financial Corp’s holdings in ITT were worth $8,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in ITT by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock valued at $362,000 after buying an additional 125 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in ITT by 8.0% during the fourth quarter. Everhart Financial Group Inc. now owns 8,302 shares of the conglomerate’s stock valued at $1,186,000 after buying an additional 617 shares during the last quarter. Rhumbline Advisers boosted its stake in ITT by 0.6% during the fourth quarter. Rhumbline Advisers now owns 221,315 shares of the conglomerate’s stock valued at $31,621,000 after buying an additional 1,222 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after buying an additional 182 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in ITT by 35.3% during the fourth quarter. Van ECK Associates Corp now owns 70,366 shares of the conglomerate’s stock valued at $10,054,000 after buying an additional 18,370 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ITT. Citigroup decreased their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. KeyCorp upped their price objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Wolfe Research began coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Trading Down 4.1 %

Shares of NYSE ITT opened at $141.85 on Friday. 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 business’s 50 day moving average price is $146.34 and its 200-day moving average price is $145.48. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.91 and a beta of 1.41.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s dividend payout ratio (DPR) is presently 20.32%.

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.