Erste Asset Management GmbH Purchases 5,014 Shares of ITT Inc. (NYSE:ITT)

Erste Asset Management GmbH lifted its position in shares of ITT Inc. (NYSE:ITT) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,242 shares of the conglomerate’s stock after purchasing an additional 5,014 shares during the period. Erste Asset Management GmbH owned 0.06% of ITT worth $7,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ITT. Eagle Asset Management Inc. bought a new position in ITT during the 3rd quarter worth $67,503,000. Algert Global LLC grew its stake in shares of ITT by 101.2% in the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate’s stock valued at $2,696,000 after acquiring an additional 9,070 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in ITT by 0.7% during 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 during the period. Pier 88 Investment Partners LLC raised its stake in ITT by 268.1% in the 3rd 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 in the last quarter. Finally, ING Groep NV bought a new stake in ITT in the 4th quarter valued at about $1,214,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ITT. KeyCorp lifted their price target on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Wolfe Research assumed coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. UBS Group increased their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus dropped their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Down 2.0 %

Shares of NYSE ITT opened at $129.73 on Friday. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.89 and a beta of 1.42. 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 $121.01 and a 12 month high of $161.13. The stock has a 50-day moving average price of $144.69 and a two-hundred day moving average price of $145.96.

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%. As a group, analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.08%. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT’s dividend payout ratio is presently 22.22%.

About ITT

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.