Thrivent Financial for Lutherans Sells 16,066 Shares of ITT Inc. (NYSE:ITT)

Thrivent Financial for Lutherans trimmed its position in shares of ITT Inc. (NYSE:ITT) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,891 shares of the conglomerate’s stock after selling 16,066 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of ITT worth $8,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITT. PNC Financial Services Group Inc. raised its stake in shares of ITT by 0.5% during the third quarter. PNC Financial Services Group Inc. now owns 33,439 shares of the conglomerate’s stock valued at $4,999,000 after acquiring an additional 178 shares during the last quarter. Commerce Bank raised its stake in shares of ITT by 3.1% during the third quarter. Commerce Bank now owns 11,901 shares of the conglomerate’s stock valued at $1,779,000 after acquiring an additional 362 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of ITT by 262.6% during the third quarter. Advisors Asset Management Inc. now owns 1,320 shares of the conglomerate’s stock valued at $197,000 after acquiring an additional 956 shares during the last quarter. Raymond James Trust N.A. bought a new position in shares of ITT during the third quarter valued at about $236,000. Finally, Cerity Partners LLC raised its stake in shares of ITT by 23.9% during the third quarter. Cerity Partners LLC now owns 57,961 shares of the conglomerate’s stock valued at $8,666,000 after acquiring an additional 11,175 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

Shares of ITT opened at $134.83 on Friday. The stock has a market cap of $10.97 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13. The firm’s 50-day simple moving average is $143.61 and its two-hundred day simple moving average is $145.84.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 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%. Analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently declared 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. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. ITT’s dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

ITT has been the subject of several recent analyst reports. Stifel Nicolaus lowered 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. Citigroup decreased their price target 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. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. Finally, UBS Group increased their price target on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.