Mawer Investment Management Ltd. Sells 16,147 Shares of ITT Inc. (NYSE:ITT)

Mawer Investment Management Ltd. reduced its stake in ITT Inc. (NYSE:ITT) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361,805 shares of the conglomerate’s stock after selling 16,147 shares during the period. Mawer Investment Management Ltd. owned approximately 0.44% of ITT worth $51,695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp boosted its holdings in ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock valued at $797,000 after purchasing an additional 69 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of ITT by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock worth $1,641,000 after acquiring an additional 81 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of ITT by 10.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock worth $183,000 after acquiring an additional 116 shares during the last quarter. Tectonic Advisors LLC boosted its stake in shares of ITT by 4.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock valued at $435,000 after purchasing an additional 123 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of ITT by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock valued at $362,000 after purchasing an additional 125 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

Shares of ITT stock opened at $128.56 on Friday. 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 stock has a fifty day moving average of $142.63 and a 200 day moving average of $146.01. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.89 and a beta of 1.42. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13.

ITT (NYSE:ITT) last posted its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping 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%. As a group, research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The firm also recently announced 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 represents a $1.40 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is 22.22%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com upgraded shares of 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 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 research note on Tuesday, January 21st. Citigroup dropped their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus decreased their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.29.

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.