Mawer Investment Management Ltd. Cuts Stake in ITT Inc. (NYSE:ITT)

Mawer Investment Management Ltd. cut its stake in shares of ITT Inc. (NYSE:ITT) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 361,805 shares of the conglomerate’s stock after selling 16,147 shares during the quarter. Mawer Investment Management Ltd.’s holdings in ITT were worth $51,695,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised 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 buying an additional 3,424 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of ITT by 422.7% during the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock valued at $601,000 after buying an additional 3,403 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of ITT by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock worth $308,000 after buying an additional 1,936 shares during the last quarter. ING Groep NV bought a new stake in shares of ITT in the fourth quarter worth $1,214,000. Finally, Vest Financial LLC increased its position in ITT by 63.8% during the fourth quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate’s stock valued at $2,430,000 after acquiring an additional 6,626 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Down 4.1 %

NYSE ITT opened at $128.56 on Friday. ITT Inc. has a 12 month low of $121.01 and a 12 month high of $161.13. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a market cap of $10.46 billion, a PE ratio of 20.41, a P/E/G ratio of 1.89 and a beta of 1.42. The stock’s 50 day moving average is $142.63 and its 200 day moving average is $146.01.

ITT (NYSE:ITT) last released its earnings results 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 net margin of 14.27% and a return on equity of 18.03%. Research analysts predict that ITT Inc. will post 6.51 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. Stockholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. This is a positive change 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 dividend yield of 1.09%. ITT’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ITT shares. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Wolfe Research began coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. KeyCorp boosted their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Citigroup decreased their price objective 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.29.

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.