KLP Kapitalforvaltning AS Purchases Shares of 16,700 ITT Inc. (NYSE:ITT)

KLP Kapitalforvaltning AS acquired a new position in shares of ITT Inc. (NYSE:ITT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,700 shares of the conglomerate’s stock, valued at approximately $2,386,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ITT. Advisors Asset Management Inc. lifted its holdings in ITT by 262.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,320 shares of the conglomerate’s stock valued at $197,000 after purchasing an additional 956 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of ITT during the 3rd quarter worth about $236,000. Daiwa Securities Group Inc. bought a new stake in shares of ITT during the 3rd quarter worth about $75,000. Fisher Asset Management LLC grew its stake in ITT by 9.4% in the 3rd quarter. Fisher Asset Management LLC now owns 114,136 shares of the conglomerate’s stock valued at $17,064,000 after buying an additional 9,839 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in ITT by 232.2% in the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 209 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Stock Down 2.7 %

Shares of NYSE ITT opened at $134.26 on Friday. The stock has a market capitalization of $10.93 billion, a P/E ratio of 21.31, a PEG ratio of 1.89 and a beta of 1.42. The stock’s fifty day moving average is $143.08 and its 200 day moving average is $145.93. ITT Inc. has a 52 week low of $121.01 and a 52 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.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS 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%. Sell-side analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.351 per share. The ex-dividend date is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.05%. ITT’s dividend payout ratio is presently 22.22%.

Analyst Ratings Changes

Several equities analysts have recently commented on ITT shares. UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Citigroup decreased their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. KeyCorp upped their price target on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Wolfe Research started coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, ITT currently has an average rating of “Moderate Buy” and an average price target of $170.29.

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.