ING Groep NV Makes New $1.21 Million Investment in ITT Inc. (NYSE:ITT)

ING Groep NV bought a new stake in ITT Inc. (NYSE:ITT) during the fourth quarter, HoldingsChannel reports. The firm bought 8,500 shares of the conglomerate’s stock, valued at approximately $1,214,000.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in ITT during the 3rd quarter worth approximately $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT during the 3rd quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new position in ITT during the fourth quarter worth $30,000. Private Trust Co. NA boosted its holdings in ITT by 232.2% in the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock worth $45,000 after purchasing an additional 209 shares during the period. Finally, Coastline Trust Co bought a new stake in ITT during the third quarter valued at $48,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of NYSE ITT opened at $141.85 on Monday. ITT Inc. has a 1 year low of $121.01 and a 1 year 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 stock has a fifty day moving average price of $146.34 and a two-hundred day moving average price of $145.72. The firm has a market cap of $11.55 billion, a P/E ratio of 22.52, a PEG ratio of 1.89 and a beta of 1.41.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be given a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is 20.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. TD Cowen raised their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus lowered their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, ITT has an average rating of “Moderate Buy” and an average price target of $168.38.

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.