PNC Financial Services Group Inc. Reduces Stock Position in ITT Inc. (NYSE:ITT)

PNC Financial Services Group Inc. decreased its position in shares of ITT Inc. (NYSE:ITT) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,500 shares of the conglomerate’s stock after selling 939 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ITT were worth $4,644,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Eagle Asset Management Inc. purchased a new position in shares of ITT during the third quarter worth about $67,503,000. Algert Global LLC grew its holdings in shares of ITT by 101.2% during the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate’s stock worth $2,696,000 after purchasing an additional 9,070 shares during the last quarter. Pier 88 Investment Partners LLC grew its holdings in shares of ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock worth $4,161,000 after purchasing an additional 20,270 shares during the last quarter. ING Groep NV purchased a new position in shares of ITT during the fourth quarter worth about $1,214,000. Finally, Vest Financial LLC grew its holdings in shares of ITT by 63.8% during the fourth quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate’s stock worth $2,430,000 after purchasing an additional 6,626 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Down 1.2 %

Shares of NYSE ITT opened at $132.29 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $10.77 billion, a PE ratio of 21.00, a P/E/G ratio of 1.89 and a beta of 1.42. The firm has a fifty day moving average of $144.69 and a 200-day moving average of $145.96. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13.

ITT (NYSE:ITT) last issued 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%. On average, analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ITT. KeyCorp increased their target price on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. UBS Group increased their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Citigroup decreased their target price 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.38.

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.