JPMorgan Chase & Co. Trims Stake in ITT Inc. (NYSE:ITT)

JPMorgan Chase & Co. lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,640,314 shares of the conglomerate’s stock after selling 167,165 shares during the quarter. JPMorgan Chase & Co. owned approximately 6.92% of ITT worth $805,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ITT. Charles Schwab Investment Management Inc. lifted its position in ITT by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock valued at $73,913,000 after purchasing an additional 3,424 shares in the last quarter. AlphaQuest LLC lifted its position in shares of ITT by 422.7% during the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock valued at $601,000 after buying an additional 3,403 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of ITT by 880.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock valued at $308,000 after acquiring an additional 1,936 shares during the period. ING Groep NV purchased a new stake in ITT in the 4th quarter worth approximately $1,214,000. Finally, Vest Financial LLC raised its stake in ITT by 63.8% during the 4th quarter. Vest Financial LLC now owns 17,004 shares of the conglomerate’s stock worth $2,430,000 after acquiring an additional 6,626 shares during the period. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Stifel Nicolaus dropped their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Citigroup cut their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. UBS Group increased their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, KeyCorp boosted 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, ITT presently has an average rating of “Moderate Buy” and a consensus price target of $170.29.

ITT Stock Down 4.1 %

NYSE:ITT opened at $128.56 on Friday. 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 company has a market cap of $10.46 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. The stock has a fifty day simple moving average of $142.63 and a 200-day simple moving average of $145.91. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) 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%. Analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 1.09%. This is a boost from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT’s dividend payout ratio is presently 22.22%.

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.