LGT Group Foundation Has $2.42 Million Stock Holdings in ITT Inc. (NYSE:ITT)

LGT Group Foundation trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 51.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,910 shares of the conglomerate’s stock after selling 18,156 shares during the period. LGT Group Foundation’s holdings in ITT were worth $2,416,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ITT. Eagle Asset Management Inc. acquired a new position in shares of ITT during the 3rd quarter worth about $67,503,000. Proficio Capital Partners LLC acquired a new stake in ITT in the 4th quarter valued at about $19,345,000. TimesSquare Capital Management LLC lifted its stake in ITT by 34.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 198,550 shares of the conglomerate’s stock valued at $28,369,000 after purchasing an additional 50,384 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in ITT in the 3rd quarter valued at about $7,075,000. Finally, Polar Asset Management Partners Inc. lifted its stake in ITT by 68.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock valued at $16,596,000 after purchasing an additional 45,300 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Wolfe Research assumed coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. KeyCorp raised their target price on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. UBS Group raised their target price on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Citigroup lowered their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, ITT currently has an average rating of “Moderate Buy” and an average target price of $168.38.

ITT Stock Down 2.8 %

ITT stock opened at $137.30 on Tuesday. The stock has a market cap of $11.18 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.89 and a beta of 1.41. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13. The company’s 50-day moving average price is $145.76 and its two-hundred day moving average price is $146.01.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate 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 expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. The ex-dividend date is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. ITT’s dividend payout ratio (DPR) 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.