ITT Inc. (NYSE:ITT) Holdings Cut by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. reduced its stake in shares of ITT Inc. (NYSE:ITT) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 76,298 shares of the conglomerate’s stock after selling 662 shares during the period. Cookson Peirce & Co. Inc.’s holdings in ITT were worth $10,901,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp lifted its stake in shares of ITT by 1.3% in the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after buying an additional 69 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock valued at $1,641,000 after buying an additional 81 shares during the last quarter. CIBC Asset Management Inc raised its holdings in ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after acquiring an additional 87 shares during the period. Round Rock Advisors LLC lifted its position in ITT by 0.4% during the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after acquiring an additional 90 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its holdings in ITT by 4.2% during the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock valued at $435,000 after acquiring an additional 123 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Down 2.3 %

Shares of ITT stock opened at $134.21 on Wednesday. ITT Inc. has a one year low of $121.01 and a one year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock has a fifty day moving average price of $145.56 and a 200 day moving average price of $146.00. The stock has a market cap of $10.92 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS 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%. Analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be paid a $0.351 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, March 6th. ITT’s dividend payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

ITT has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. UBS Group lifted their price target on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus reduced their price objective on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, 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 report on Monday, January 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

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.