Principal Financial Group Inc. Sells 2,402 Shares of ITT Inc. (NYSE:ITT)

Principal Financial Group Inc. decreased its position in shares of ITT Inc. (NYSE:ITT) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,849 shares of the conglomerate’s stock after selling 2,402 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of ITT worth $26,697,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ITT. Capital Performance Advisors LLP bought a new position in ITT during the 3rd quarter worth $26,000. Resources Management Corp CT ADV bought a new position in ITT during the 3rd quarter worth $30,000. ORG Wealth Partners LLC bought a new position in ITT during the 4th quarter worth $30,000. Private Trust Co. NA increased its position in shares of 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 position in shares of ITT in the third quarter worth $48,000. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wolfe Research assumed coverage on ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird decreased their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. TD Cowen raised their price target on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus decreased their price target on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Performance

NYSE:ITT opened at $141.85 on Friday. The stock’s 50-day simple moving average is $146.34 and its 200 day simple moving average is $145.60. The firm has a market capitalization of $11.55 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings data 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 return on equity of 18.03% and a net margin of 14.27%. On average, analysts anticipate 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. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.99%. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s dividend payout ratio (DPR) is presently 20.32%.

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.