ITT Inc. (NYSE:ITT) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management reduced its position in shares of ITT Inc. (NYSE:ITT) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,007 shares of the conglomerate’s stock after selling 12,818 shares during the period. ITT comprises 1.6% of Eagle Ridge Investment Management’s portfolio, making the stock its 20th largest position. Eagle Ridge Investment Management owned 0.17% of ITT worth $16,706,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in shares of ITT by 1.9% during the third quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock worth $742,319,000 after purchasing an additional 144,394 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of ITT by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock worth $169,581,000 after buying an additional 5,495 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of ITT by 1.1% in the third quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock worth $132,581,000 after buying an additional 14,857 shares during the last quarter. Invesco Ltd. increased its stake in shares of ITT by 46.6% in the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock worth $60,130,000 after buying an additional 195,111 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of ITT by 7.2% in the third quarter. Westfield Capital Management Co. LP now owns 602,444 shares of the conglomerate’s stock worth $58,985,000 after buying an additional 40,612 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Trading Up 1.0 %

ITT stock traded up $1.37 during trading on Monday, hitting $132.57. The company had a trading volume of 135,254 shares, compared to its average volume of 350,712. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 1.80 and a beta of 1.43. The business has a 50 day moving average of $128.97 and a 200 day moving average of $117.76. ITT Inc. has a fifty-two week low of $75.82 and a fifty-two week high of $138.29.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, equities analysts predict that ITT Inc. will post 5.8 EPS for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.96%. This is an increase from ITT’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, March 7th. ITT’s dividend payout ratio is presently 25.81%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. KeyCorp boosted their target price on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Stifel Nicolaus boosted their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Citigroup upped their price target on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, DA Davidson upped their price target on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $135.57.

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.