ITT Inc. (NYSE:ITT) Shares Purchased by Payden & Rygel

Payden & Rygel raised its stake in ITT Inc. (NYSE:ITT) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,100 shares of the conglomerate’s stock after acquiring an additional 38,000 shares during the period. ITT accounts for approximately 1.9% of Payden & Rygel’s portfolio, making the stock its 11th largest position. Payden & Rygel owned approximately 0.19% of ITT worth $22,018,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of ITT in the 4th quarter valued at about $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new position in shares of ITT during the fourth quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new position in shares of ITT in the 4th quarter valued at $34,000. Finally, V Square Quantitative Management LLC raised its position in ITT by 79.1% in the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after purchasing an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ITT. UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. KeyCorp upped their price objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus cut 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, Citigroup lowered their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $170.29.

ITT Trading Down 5.5 %

NYSE:ITT opened at $113.03 on Friday. ITT Inc. has a 1 year low of $109.49 and a 1 year 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. The stock has a fifty day moving average price of $139.91 and a two-hundred day moving average price of $145.63. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT) last announced its quarterly earnings results 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 net margin of 14.27% and a return on equity of 18.03%. As a group, sell-side analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 yield of 1.24%. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 6th. ITT’s payout ratio is presently 22.22%.

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.