Vestcor Inc Makes New Investment in ITT Inc. (NYSE:ITT)

Vestcor Inc bought a new position in shares of ITT Inc. (NYSE:ITT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,723 shares of the conglomerate’s stock, valued at approximately $675,000.

Other large investors also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in ITT during the 4th quarter worth approximately $26,000. Resources Management Corp CT ADV acquired a new stake in ITT during the 3rd quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new stake in ITT during the 4th quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new stake in ITT during the 4th quarter valued at approximately $34,000. Finally, Private Trust Co. NA lifted its stake in ITT by 232.2% during the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT opened at $135.12 on Monday. 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 firm has a fifty day moving average price of $144.29 and a 200 day moving average price of $145.96. The stock has a market cap of $11.00 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.89 and a beta of 1.42. ITT Inc. has a 1 year low of $121.01 and a 1 year high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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%. Equities research analysts anticipate 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. Shareholders of record on Thursday, March 6th will be given 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 dividend on an annualized basis and a yield of 1.04%. ITT’s dividend payout ratio is currently 22.22%.

Analyst Ratings Changes

Several brokerages have commented on ITT. Citigroup decreased their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. KeyCorp lifted their price objective 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. Stifel Nicolaus decreased their price objective 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. UBS Group lifted their price objective 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, StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

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.