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

Massachusetts Financial Services Co. MA trimmed its position in ITT Inc. (NYSE:ITT) by 18.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,078,235 shares of the conglomerate’s stock after selling 245,105 shares during the period. Massachusetts Financial Services Co. MA owned 1.32% of ITT worth $154,058,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on ITT. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Stifel Nicolaus cut 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. Finally, Citigroup reduced their target price on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.29.

ITT Stock Down 5.5 %

Shares of ITT stock opened at $113.03 on Friday. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.89 and a beta of 1.36. The stock’s 50-day moving average is $139.91 and its 200 day moving average is $145.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. ITT Inc. has a one year low of $109.49 and a one year high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. Equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio 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.