AIA Group Ltd Purchases 9,914 Shares of ITT Inc. (NYSE:ITT)

AIA Group Ltd raised its holdings in shares of ITT Inc. (NYSE:ITT) by 104.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,411 shares of the conglomerate’s stock after purchasing an additional 9,914 shares during the period. AIA Group Ltd’s holdings in ITT were worth $2,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ITT. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ITT by 3.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,772 shares of the conglomerate’s stock valued at $2,836,000 after purchasing an additional 822 shares during the period. Eagle Bluffs Wealth Management LLC lifted its stake in ITT by 0.6% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 18,820 shares of the conglomerate’s stock valued at $2,246,000 after buying an additional 114 shares during the period. Cookson Peirce & Co. Inc. bought a new position in ITT during the fourth quarter worth about $9,111,000. Suncoast Equity Management grew its position in shares of ITT by 14.1% during the 4th quarter. Suncoast Equity Management now owns 8,885 shares of the conglomerate’s stock worth $1,060,000 after buying an additional 1,100 shares during the period. Finally, Eads & Heald Wealth Management increased its stake in shares of ITT by 18.2% in the 4th quarter. Eads & Heald Wealth Management now owns 4,705 shares of the conglomerate’s stock valued at $561,000 after acquiring an additional 725 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ITT shares. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. DA Davidson raised their price target on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. KeyCorp increased their target price on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Citigroup lifted their price target on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus increased their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT presently has a consensus rating of “Buy” and a consensus target price of $135.57.

ITT Price Performance

Shares of NYSE:ITT opened at $125.20 on Friday. ITT Inc. has a one year low of $75.82 and a one year high of $138.29. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.71 and a beta of 1.43. The firm has a 50 day simple moving average of $128.26 and a 200 day simple moving average of $116.20.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. ITT had a return on equity of 17.91% and a net margin of 12.50%. The business had revenue of $829.10 million for the quarter, compared to the consensus estimate of $814.38 million. During the same period in the prior year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts expect that ITT Inc. will post 5.79 EPS for the current year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a dividend of $0.319 per share. This is a boost from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Thursday, March 7th. ITT’s dividend payout ratio (DPR) is currently 25.81%.

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.