ITT Inc. (NYSE:ITT) Stake Lessened by GW&K Investment Management LLC

GW&K Investment Management LLC decreased its holdings in shares of ITT Inc. (NYSE:ITT) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 787,217 shares of the conglomerate’s stock after selling 77,799 shares during the quarter. ITT makes up 1.0% of GW&K Investment Management LLC’s investment portfolio, making the stock its 11th largest position. GW&K Investment Management LLC’s holdings in ITT were worth $112,478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ITT. Capital Performance Advisors LLP acquired a new stake in ITT during the 3rd quarter worth about $26,000. Resources Management Corp CT ADV purchased a new stake in shares of ITT in the third quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new stake in shares of ITT during the fourth quarter worth approximately $30,000. Whipplewood Advisors LLC purchased a new position in ITT during the fourth quarter valued at approximately $34,000. Finally, Private Trust Co. NA increased its stake in ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after buying an additional 209 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of NYSE ITT opened at $140.59 on Friday. The business’s 50-day simple moving average is $145.92 and its 200-day simple moving average is $145.77. 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 52 week low of $121.01 and a 52 week high of $161.13. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 1.89 and a beta of 1.41.

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

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be issued a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is 22.22%.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of research reports. Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. UBS Group boosted their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Stifel Nicolaus cut their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. TD Cowen lifted their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, KeyCorp increased their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.