Entropy Technologies LP Reduces Position in ITT Inc. (NYSE:ITT)

Entropy Technologies LP decreased its position in ITT Inc. (NYSE:ITT) by 41.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,449 shares of the conglomerate’s stock after selling 6,040 shares during the period. Entropy Technologies LP’s holdings in ITT were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. Sanctuary Advisors LLC purchased a new position in shares of ITT in the second quarter worth about $489,000. CWM LLC increased its holdings in ITT by 191.4% in the 3rd quarter. CWM LLC now owns 3,879 shares of the conglomerate’s stock worth $580,000 after buying an additional 2,548 shares during the period. UMB Bank n.a. lifted its stake in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 180 shares during the period. Blue Trust Inc. lifted its stake in ITT by 252.5% during the 3rd quarter. Blue Trust Inc. now owns 1,491 shares of the conglomerate’s stock valued at $223,000 after acquiring an additional 1,068 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of ITT by 3.2% in the 3rd quarter. Raymond James & Associates now owns 69,649 shares of the conglomerate’s stock valued at $10,413,000 after acquiring an additional 2,176 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 research firms recently issued reports on ITT. TD Cowen boosted their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Citigroup decreased their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Robert W. Baird dropped their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus decreased their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $168.38.

ITT Trading Up 1.0 %

Shares of ITT stock opened at $147.47 on Tuesday. ITT Inc. has a 1-year low of $118.95 and a 1-year high of $161.13. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 1.09. The stock has a 50 day simple moving average of $147.67 and a 200-day simple moving average of $144.96.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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 research analysts expect that ITT Inc. will post 6.33 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.95%. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT’s payout ratio is presently 20.32%.

About ITT

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.