ITT Inc. (NYSE:ITT) Stock Holdings Decreased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its stake in shares of ITT Inc. (NYSE:ITT) by 45.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 49,917 shares of the conglomerate’s stock after selling 41,883 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ITT were worth $5,956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in shares of ITT by 63.4% during the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 118 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after purchasing an additional 204 shares during the period. Clearstead Advisors LLC lifted its holdings in ITT by 81.7% in the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock worth $54,000 after purchasing an additional 250 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of ITT by 30.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,076 shares of the conglomerate’s stock worth $105,000 after acquiring an additional 253 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of ITT by 20.1% during the third quarter. Fifth Third Bancorp now owns 1,263 shares of the conglomerate’s stock valued at $124,000 after acquiring an additional 211 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

ITT stock opened at $129.57 on Wednesday. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 1.72 and a beta of 1.43. The company’s fifty day moving average price is $128.57 and its two-hundred day moving average price is $117.12. ITT Inc. has a one year low of $75.82 and a one year high of $138.29.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $829.10 million during the quarter, compared to analyst estimates of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. As a group, sell-side analysts anticipate that ITT Inc. will post 5.8 earnings per share for the current year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. This is a boost from ITT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s dividend payout ratio is currently 25.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. KeyCorp upped their target price on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. DA Davidson lifted their price target on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Stifel Nicolaus raised their price objective on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Citigroup boosted their target price on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT currently has a consensus rating of “Buy” and an average target price of $135.57.

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.