Channing Capital Management LLC Cuts Stock Holdings in ITT Inc. (NYSE:ITT)

Channing Capital Management LLC lessened its stake in ITT Inc. (NYSE:ITT) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,024 shares of the conglomerate’s stock after selling 1,041 shares during the period. Channing Capital Management LLC owned about 0.10% of ITT worth $11,720,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ITT. Independent Advisor Alliance increased its stake in shares of ITT by 20.7% in the fourth quarter. Independent Advisor Alliance now owns 2,684 shares of the conglomerate’s stock worth $384,000 after buying an additional 461 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in shares of ITT by 40.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 2,740 shares of the conglomerate’s stock worth $391,000 after purchasing an additional 784 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ITT by 8.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,110 shares of the conglomerate’s stock worth $3,731,000 after purchasing an additional 1,925 shares during the period. AlphaQuest LLC grew its stake in shares of ITT by 422.7% in the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock worth $601,000 after purchasing an additional 3,403 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in ITT during the 4th quarter valued at approximately $26,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ITT Trading Down 2.7 %

NYSE:ITT opened at $135.00 on Tuesday. The firm has a market capitalization of $10.99 billion, a P/E ratio of 21.43, a PEG ratio of 1.89 and a beta of 1.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The company’s 50-day simple moving average is $145.08 and its 200 day simple moving average is $146.09.

ITT (NYSE:ITT) last issued its quarterly 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%. As a group, analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be given a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is currently 22.22%.

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.