Alliancebernstein L.P. Acquires 169,944 Shares of ITT Inc. (NYSE:ITT)

Alliancebernstein L.P. boosted its holdings in ITT Inc. (NYSE:ITT) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,366,576 shares of the conglomerate’s stock after purchasing an additional 169,944 shares during the period. Alliancebernstein L.P. owned approximately 1.68% of ITT worth $195,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ITT. State Street Corp grew its holdings in shares of ITT by 1.1% in the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after purchasing an additional 26,133 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after acquiring an additional 8,223 shares during the period. Norges Bank bought a new position in shares of ITT during the fourth quarter valued at about $134,433,000. Boston Partners boosted its holdings in shares of ITT by 7.0% during the fourth quarter. Boston Partners now owns 930,069 shares of the conglomerate’s stock worth $132,915,000 after purchasing an additional 61,132 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of ITT by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock worth $108,817,000 after purchasing an additional 3,727 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

ITT Stock Up 1.6 %

ITT stock opened at $131.20 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $141.74 and a 200 day moving average of $146.05. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13. The firm has a market cap of $10.68 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping 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, 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 was paid on Monday, March 31st. Investors of record on Thursday, March 6th were given a dividend of $0.351 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.07%. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is 22.22%.

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.