ING Groep NV Invests $1.21 Million in ITT Inc. (NYSE:ITT)

ING Groep NV acquired a new stake in ITT Inc. (NYSE:ITT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,500 shares of the conglomerate’s stock, valued at approximately $1,214,000.

A number of other large investors have also recently added to or reduced their stakes in ITT. Raymond James & Associates lifted its stake in shares of ITT by 3.2% in the 3rd quarter. Raymond James & Associates now owns 69,649 shares of the conglomerate’s stock valued at $10,413,000 after purchasing an additional 2,176 shares during the last quarter. Private Advisor Group LLC raised its holdings in ITT by 74.5% in the 3rd quarter. Private Advisor Group LLC now owns 8,043 shares of the conglomerate’s stock valued at $1,202,000 after buying an additional 3,435 shares during the period. International Assets Investment Management LLC lifted its position in ITT by 16,832.5% in the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after buying an additional 13,971 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in ITT by 9.1% during the third quarter. Assenagon Asset Management S.A. now owns 16,400 shares of the conglomerate’s stock worth $2,452,000 after buying an additional 1,372 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in shares of ITT during the third quarter valued at about $218,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on ITT shares. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. KeyCorp lifted their price target on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Robert W. Baird cut their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Stifel Nicolaus decreased their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Trading Down 4.1 %

ITT stock opened at $141.85 on Monday. The stock has a market cap of $11.55 billion, a PE ratio of 22.52, a P/E/G ratio of 1.89 and a beta of 1.41. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $146.34 and a 200 day moving average price of $145.72. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings data 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%. Equities research analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.99%. ITT’s dividend payout ratio (DPR) is 20.32%.

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.