JPMorgan Chase & Co. Cuts Position in ITT Inc. (NYSE:ITT)

JPMorgan Chase & Co. reduced its stake in shares of ITT Inc. (NYSE:ITT) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,640,314 shares of the conglomerate’s stock after selling 167,165 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.07% of ITT worth $805,888,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in ITT by 1.1% in the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after purchasing an additional 26,133 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after purchasing an additional 8,223 shares in the last quarter. Boston Partners grew its stake in ITT by 7.0% during the 4th quarter. Boston Partners now owns 930,069 shares of the conglomerate’s stock worth $132,915,000 after buying an additional 61,132 shares during the last quarter. Bank of New York Mellon Corp increased its position in ITT by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock valued at $108,817,000 after buying an additional 3,727 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock worth $73,913,000 after acquiring an additional 3,424 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

ITT has been the topic of several recent analyst reports. KeyCorp upped their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Stifel Nicolaus decreased their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. UBS Group boosted their price objective on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.29.

ITT Stock Performance

NYSE ITT opened at $128.56 on Friday. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The firm has a market capitalization of $10.46 billion, a P/E ratio of 20.41, a PEG ratio of 1.89 and a beta of 1.42. The stock has a 50-day simple moving average of $142.63 and a two-hundred day simple moving average of $145.91.

ITT (NYSE:ITT) last released 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 return on equity of 18.03% and a net margin of 14.27%. On average, equities analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The firm also recently declared 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 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 dividend on an annualized basis and a yield of 1.09%. ITT’s dividend payout ratio is presently 22.22%.

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.