Amalgamated Bank Has $5.73 Million Stake in ITT Inc. (NYSE:ITT)

Amalgamated Bank lowered its holdings in shares of ITT Inc. (NYSE:ITT) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,094 shares of the conglomerate’s stock after selling 1,095 shares during the period. Amalgamated Bank’s holdings in ITT were worth $5,729,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ITT. Bank of New York Mellon Corp grew its holdings in shares of ITT by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock valued at $108,817,000 after buying an additional 3,727 shares during the last quarter. Suncoast Equity Management grew its position in ITT by 11.8% in the 4th quarter. Suncoast Equity Management now owns 11,595 shares of the conglomerate’s stock worth $1,657,000 after purchasing an additional 1,225 shares in the last quarter. ING Groep NV purchased a new stake in ITT in the 4th quarter valued at about $1,214,000. Handelsbanken Fonder AB lifted its position in shares of ITT by 17.1% during the 4th quarter. Handelsbanken Fonder AB now owns 19,900 shares of the conglomerate’s stock worth $2,843,000 after buying an additional 2,900 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in shares of ITT in the fourth quarter valued at approximately $411,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Price Performance

NYSE ITT opened at $140.59 on Friday. 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 company has a market cap of $11.44 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. The firm’s 50-day simple moving average is $145.92 and its two-hundred day simple moving average is $145.77.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS 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%. Research analysts predict that ITT Inc. will post 6.51 earnings per share for the current 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 $0.351 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.00%. ITT’s payout ratio is 22.22%.

Analysts Set New Price Targets

A number of brokerages recently commented on ITT. UBS Group boosted their price objective on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. TD Cowen boosted their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Citigroup reduced their price target 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. Wolfe Research began coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $168.38.

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.