Maryland State Retirement & Pension System Reduces Stock Position in ITT Inc. (NYSE:ITT)

Maryland State Retirement & Pension System cut its stake in ITT Inc. (NYSE:ITT) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,398 shares of the conglomerate’s stock after selling 308 shares during the quarter. Maryland State Retirement & Pension System’s holdings in ITT were worth $628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITT. Rialto Wealth Management LLC purchased a new position in ITT during the 4th quarter valued at about $26,000. Resources Management Corp CT ADV bought a new position in shares of ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new position in ITT during the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC bought a new stake in ITT during the 4th quarter worth approximately $34,000. Finally, Private Trust Co. NA lifted its stake in ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock worth $45,000 after purchasing an additional 209 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Price Performance

ITT stock opened at $139.91 on Tuesday. The firm has a market cap of $11.39 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.89 and a beta of 1.42. The firm’s fifty day moving average is $143.62 and its 200 day moving average is $145.99. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Research analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is 22.22%.

Analysts Set New Price Targets

ITT has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wolfe Research started coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. Citigroup lowered their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

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.