Boston Partners Buys 61,132 Shares of ITT Inc. (NYSE:ITT)

Boston Partners raised its stake in shares of ITT Inc. (NYSE:ITT) by 7.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 930,069 shares of the conglomerate’s stock after acquiring an additional 61,132 shares during the quarter. Boston Partners’ holdings in ITT were worth $132,915,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. M&T Bank Corp raised its holdings in ITT by 1.3% during the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock valued at $797,000 after buying an additional 69 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in ITT by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock valued at $1,641,000 after buying an additional 81 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of ITT by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of ITT by 10.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock worth $183,000 after purchasing an additional 116 shares during the period. Finally, Tectonic Advisors LLC increased its stake in shares of ITT by 4.2% in the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after purchasing an additional 123 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price objective on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. KeyCorp lifted their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. UBS Group lifted their price objective on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Trading Down 1.8 %

Shares of ITT opened at $134.40 on Wednesday. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.89 and a beta of 1.42. The stock’s 50-day moving average price is $143.97 and its 200 day moving average price is $145.92.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating 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, research analysts predict 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 issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT’s payout ratio 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.