Capital International Sarl lifted its position in ITT Inc. (NYSE:ITT – Free Report) by 5.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 48,748 shares of the conglomerate’s stock after acquiring an additional 2,565 shares during the period. Capital International Sarl’s holdings in ITT were worth $6,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in shares of ITT by 0.3% during the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock worth $1,123,533,000 after acquiring an additional 29,057 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of ITT by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after acquiring an additional 65,173 shares in the last quarter. Norges Bank purchased a new position in ITT in the 4th quarter valued at about $102,709,000. Fiduciary Management Inc. WI lifted its stake in ITT by 3.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 742,571 shares of the conglomerate’s stock valued at $88,604,000 after buying an additional 27,210 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in ITT by 12.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after buying an additional 80,652 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.
ITT Trading Up 1.4 %
Shares of NYSE ITT traded up $1.93 during midday trading on Friday, reaching $140.68. 392,167 shares of the stock were exchanged, compared to its average volume of 386,121. The company has a 50 day simple moving average of $132.29 and a 200 day simple moving average of $129.07. The stock has a market capitalization of $11.58 billion, a P/E ratio of 27.58, a PEG ratio of 1.77 and a beta of 1.41. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. ITT Inc. has a twelve month low of $91.94 and a twelve month high of $144.03.
ITT Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.319 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.91%. ITT’s dividend payout ratio is currently 25.10%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. UBS Group raised their price target on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Citigroup raised their price target on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. KeyCorp raised their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus raised their target price on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT currently has a consensus rating of “Buy” and a consensus price target of $144.88.
Read Our Latest Research Report on ITT
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.
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