Principal Financial Group Inc. Has $26.70 Million Stock Holdings in ITT Inc. (NYSE:ITT)

Principal Financial Group Inc. trimmed its position in shares of ITT Inc. (NYSE:ITT) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,849 shares of the conglomerate’s stock after selling 2,402 shares during the quarter. Principal Financial Group Inc.’s holdings in ITT were worth $26,697,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of ITT in the third quarter worth approximately $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT in the third quarter worth approximately $30,000. ORG Wealth Partners LLC acquired a new position in shares of ITT in the fourth quarter worth approximately $30,000. Private Trust Co. NA lifted its stake in shares of ITT by 232.2% in the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock worth $45,000 after acquiring an additional 209 shares during the period. Finally, Coastline Trust Co acquired a new position in shares of ITT in the third quarter worth approximately $48,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ITT shares. Robert W. Baird cut their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. UBS Group lifted their price objective on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. KeyCorp lifted their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Wolfe Research started coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, ITT presently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Trading Down 4.1 %

Shares of ITT stock opened at $141.85 on Friday. The company has a market cap of $11.55 billion, a P/E ratio of 22.52, a PEG ratio of 1.89 and a beta of 1.41. The stock has a 50 day simple moving average of $146.34 and a two-hundred day simple moving average of $145.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13.

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

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. ITT’s payout ratio is currently 20.32%.

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.