Alliancebernstein L.P. Raises Stock Holdings in ITT Inc. (NYSE:ITT)

Alliancebernstein L.P. grew its stake in shares of ITT Inc. (NYSE:ITT) by 14.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,366,576 shares of the conglomerate’s stock after buying an additional 169,944 shares during the quarter. Alliancebernstein L.P.’s holdings in ITT were worth $195,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Rialto Wealth Management LLC purchased a new stake in ITT during the fourth quarter valued at $26,000. Resources Management Corp CT ADV bought a new stake in shares of ITT during the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT during the 4th quarter valued at about $30,000. Whipplewood Advisors LLC purchased a new stake in shares of ITT during the 4th quarter valued at about $34,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of ITT by 79.1% in the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 182 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

NYSE ITT opened at $131.20 on Wednesday. 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 business has a 50-day moving average price of $141.74 and a 200-day moving average price of $146.05. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last posted its quarterly earnings results 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 return on equity of 18.03% and a net margin of 14.27%. As a group, equities research analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a $0.351 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.07%. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ITT. UBS Group upped their target price on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. KeyCorp upped 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. Stifel Nicolaus lowered their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wolfe Research initiated coverage on ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating for the company. Finally, Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, ITT has an average rating of “Moderate Buy” and a consensus price target 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.