Los Angeles Capital Management LLC Trims Stake in ITT Inc. (NYSE:ITT)

Los Angeles Capital Management LLC cut its position in ITT Inc. (NYSE:ITT) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,809 shares of the conglomerate’s stock after selling 570 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ITT were worth $544,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of ITT by 16,832.5% during the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock worth $2,101,000 after acquiring an additional 13,971 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in ITT by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,546 shares of the conglomerate’s stock worth $1,427,000 after purchasing an additional 640 shares during the period. First Trust Direct Indexing L.P. grew its position in ITT by 22.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,350 shares of the conglomerate’s stock worth $351,000 after purchasing an additional 438 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in ITT by 17.3% in the third quarter. Chicago Partners Investment Group LLC now owns 3,844 shares of the conglomerate’s stock valued at $555,000 after purchasing an additional 567 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of ITT by 0.7% in the third quarter. Janney Montgomery Scott LLC now owns 28,891 shares of the conglomerate’s stock valued at $4,320,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

ITT has been the topic of a number of research reports. UBS Group raised their price target on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. KeyCorp increased their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Trading Down 2.8 %

Shares of ITT stock opened at $137.30 on Tuesday. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. 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 business’s fifty day moving average price is $145.76 and its 200 day moving average price is $146.01. The firm has a market capitalization of $11.18 billion, a PE ratio of 21.79, a P/E/G ratio of 1.89 and a beta of 1.41.

ITT (NYSE:ITT) last posted its quarterly earnings results 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%. As a group, sell-side 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 dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.02%. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s dividend payout ratio (DPR) is presently 22.22%.

About ITT

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.