Massachusetts Financial Services Co. MA Sells 245,105 Shares of ITT Inc. (NYSE:ITT)

Massachusetts Financial Services Co. MA lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 18.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,078,235 shares of the conglomerate’s stock after selling 245,105 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in ITT were worth $154,058,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC increased its position in shares of ITT by 21.1% during the third quarter. Townsquare Capital LLC now owns 2,177 shares of the conglomerate’s stock worth $325,000 after acquiring an additional 380 shares in the last quarter. Captrust Financial Advisors boosted its stake in ITT by 5.7% during the 3rd quarter. Captrust Financial Advisors now owns 12,293 shares of the conglomerate’s stock valued at $1,838,000 after purchasing an additional 665 shares during the last quarter. Quantinno Capital Management LP increased its holdings in ITT by 7.5% during the 3rd quarter. Quantinno Capital Management LP now owns 19,102 shares of the conglomerate’s stock worth $2,856,000 after purchasing an additional 1,331 shares in the last quarter. Stifel Financial Corp raised its stake in shares of ITT by 1.0% in the third quarter. Stifel Financial Corp now owns 21,455 shares of the conglomerate’s stock worth $3,208,000 after purchasing an additional 221 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of ITT by 1.1% in the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after purchasing an additional 26,133 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ITT shares. Wolfe Research started coverage on ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating for the company. Citigroup lowered their target price 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. UBS Group boosted their price target on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus decreased their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, ITT currently has an average rating of “Moderate Buy” and a consensus target price of $170.29.

ITT Stock Performance

Shares of ITT stock opened at $113.03 on Friday. ITT Inc. has a 52 week low of $109.49 and a 52 week high of $161.13. The firm’s 50-day simple moving average is $139.91 and its two-hundred day simple moving average is $145.63. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.89 and a beta of 1.36. 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 (NYSE:ITT) last posted its quarterly earnings data 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 analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were issued a $0.351 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.24%. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is 22.22%.

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.