Handelsbanken Fonder AB Has $2.84 Million Stake in ITT Inc. (NYSE:ITT)

Handelsbanken Fonder AB raised its position in shares of ITT Inc. (NYSE:ITT) by 17.1% in the 4th quarter, Holdings Channel reports. The firm owned 19,900 shares of the conglomerate’s stock after acquiring an additional 2,900 shares during the period. Handelsbanken Fonder AB’s holdings in ITT were worth $2,843,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in ITT during the third quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new position in ITT during the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new position in ITT during the fourth quarter valued at approximately $30,000. Private Trust Co. NA raised its position in ITT by 232.2% during the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 209 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in ITT during the third quarter valued at approximately $48,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of ITT stock opened at $140.71 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 1.89 and a beta of 1.41. The company’s fifty day moving average is $146.12 and its 200 day moving average is $145.78.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share 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%. Sell-side analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.00%. ITT’s payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

Several brokerages have commented on ITT. Stifel Nicolaus lowered their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Citigroup lowered 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. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. UBS Group upped their price target on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Robert W. Baird lowered their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.