ITT Inc. (NYSE:ITT) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in ITT Inc. (NYSE:ITT) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,868 shares of the conglomerate’s stock after purchasing an additional 10,356 shares during the period. Teacher Retirement System of Texas’ holdings in ITT were worth $10,269,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

ITT has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. Stifel Nicolaus cut 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. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Citigroup cut their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, UBS Group lifted their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $168.38.

ITT Stock Performance

NYSE:ITT opened at $134.83 on Friday. The firm has a 50 day simple moving average of $143.61 and a 200-day simple moving average of $145.84. 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 firm has a market cap of $10.97 billion, a PE ratio of 21.40, a P/E/G ratio of 1.89 and a beta of 1.42. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13.

ITT (NYSE:ITT) last posted 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 net margin of 14.27% and a return on equity of 18.03%. On average, equities analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business 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 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%.

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.