Handelsbanken Fonder AB Purchases 2,900 Shares of ITT Inc. (NYSE:ITT)

Handelsbanken Fonder AB lifted its holdings in shares of ITT Inc. (NYSE:ITT) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,900 shares of the conglomerate’s stock after buying an additional 2,900 shares during the period. Handelsbanken Fonder AB’s holdings in ITT were worth $2,843,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. State Street Corp boosted its stake in shares of ITT by 1.1% during the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after buying an additional 26,133 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after buying an additional 8,223 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after buying an additional 27,885 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of ITT during the 3rd quarter worth about $67,503,000. Finally, Loomis Sayles & Co. L P boosted its stake in shares of ITT by 1.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 381,580 shares of the conglomerate’s stock worth $57,050,000 after buying an additional 4,271 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Trading Down 0.9 %

Shares of ITT stock opened at $140.71 on Tuesday. The firm has a 50 day moving average price of $146.12 and a two-hundred day moving average price of $145.78. 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 company has a market capitalization of $11.45 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. ITT Inc. has a 12-month low of $121.01 and a 12-month high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.00%. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT’s payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITT. Stifel Nicolaus cut their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. KeyCorp raised their target price 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. Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, TD Cowen raised their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

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.