ITT Inc. (NYSE:ITT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in ITT Inc. (NYSE:ITT) by 13.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,809 shares of the conglomerate’s stock after selling 570 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ITT were worth $544,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ITT. Bank of New York Mellon Corp lifted its stake in ITT by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 761,599 shares of the conglomerate’s stock valued at $108,817,000 after buying an additional 3,727 shares in the last quarter. Suncoast Equity Management raised its holdings in shares of ITT by 11.8% in the fourth quarter. Suncoast Equity Management now owns 11,595 shares of the conglomerate’s stock worth $1,657,000 after acquiring an additional 1,225 shares during the last quarter. ING Groep NV purchased a new stake in shares of ITT in the fourth quarter valued at $1,214,000. Handelsbanken Fonder AB boosted its stake in shares of ITT by 17.1% during the fourth quarter. Handelsbanken Fonder AB now owns 19,900 shares of the conglomerate’s stock valued at $2,843,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of ITT during the fourth quarter valued at $411,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ITT shares. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. Citigroup lowered their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, KeyCorp raised their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.38.

ITT Stock Down 2.8 %

ITT opened at $137.30 on Tuesday. The firm has a 50 day moving average price of $145.76 and a 200 day moving average price of $146.01. The company has a market cap of $11.18 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. ITT Inc. has a 1 year low of $121.01 and a 1 year high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40.

ITT (NYSE:ITT) last issued 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 return on equity of 18.03% and a net margin of 14.27%. Sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 1.02%. ITT’s payout ratio is presently 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.