New York Life Investment Management LLC Has $1.23 Million Position in ITT Inc. (NYSE:ITT)

New York Life Investment Management LLC lowered its holdings in ITT Inc. (NYSE:ITT) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,629 shares of the conglomerate’s stock after selling 834 shares during the quarter. New York Life Investment Management LLC’s holdings in ITT were worth $1,233,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ITT. Capital Performance Advisors LLP acquired a new stake in ITT in the 3rd quarter valued at $26,000. Resources Management Corp CT ADV acquired a new stake in ITT in the 3rd quarter valued at $30,000. ORG Wealth Partners LLC acquired a new stake in ITT in the 4th quarter valued at $30,000. Whipplewood Advisors LLC acquired a new stake in ITT in the 4th quarter valued at $34,000. Finally, Private Trust Co. NA grew its position in ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ITT. Citigroup reduced their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Wolfe Research assumed coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. UBS Group lifted their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. KeyCorp lifted their price objective on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, ITT has an average rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Trading Down 2.8 %

NYSE ITT opened at $137.30 on Tuesday. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.89 and a beta of 1.41. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The business’s fifty day moving average is $145.76 and its 200-day moving average is $146.01.

ITT (NYSE:ITT) last released its earnings results 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 return on equity of 18.03% and a net margin of 14.27%. Equities research analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Thursday, March 6th. ITT’s payout ratio is currently 22.22%.

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.