HighPoint Advisor Group LLC Sells 198 Shares of ITT Inc. (NYSE:ITT)

HighPoint Advisor Group LLC lessened its holdings in ITT Inc. (NYSE:ITT) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,813 shares of the conglomerate’s stock after selling 198 shares during the period. HighPoint Advisor Group LLC’s holdings in ITT were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ITT. State Street Corp increased its holdings in shares of ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after buying an additional 26,133 shares during the last quarter. Geode Capital Management LLC grew its position in ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after acquiring an additional 8,223 shares in the last quarter. Alliancebernstein L.P. increased its stake in ITT by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock worth $195,256,000 after acquiring an additional 169,944 shares during the last quarter. Norges Bank purchased a new stake in ITT during the fourth quarter valued at approximately $134,433,000. Finally, Boston Partners lifted its stake in shares of ITT by 7.0% in the 4th quarter. Boston Partners now owns 930,069 shares of the conglomerate’s stock valued at $132,915,000 after purchasing an additional 61,132 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Up 1.9 %

Shares of ITT opened at $133.62 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.89 and a beta of 1.42. The company has a 50-day moving average of $141.34 and a 200 day moving average of $145.97. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating 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%. On average, research analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.05%. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is currently 22.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stifel Nicolaus cut 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. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Citigroup lowered their target price 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 assumed coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.29.

ITT Company 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.