Watchman Group Inc. Has $3.69 Million Holdings in ITT Inc. (NYSE:ITT)

Watchman Group Inc. reduced its stake in ITT Inc. (NYSE:ITT) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,793 shares of the conglomerate’s stock after selling 1,754 shares during the quarter. Watchman Group Inc.’s holdings in ITT were worth $3,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. M&T Bank Corp lifted its stake 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 acquiring an additional 69 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in 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 buying an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in ITT by 10.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock valued at $183,000 after purchasing an additional 116 shares during the last quarter. Tectonic Advisors LLC raised its stake in ITT by 4.2% in the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock valued at $435,000 after buying an additional 123 shares during the period. Finally, CIBC Asset Management Inc boosted its stake 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 worth $362,000 after acquiring an additional 125 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Down 4.1 %

ITT stock opened at $128.56 on Friday. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. The business has a 50-day simple moving average of $142.63 and a 200 day simple moving average of $146.01. 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 cap of $10.46 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last issued its quarterly 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 net margin of 14.27% and a return on equity of 18.03%. Sell-side analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal 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 issued a dividend of $0.351 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

ITT has been the topic of a number of research analyst reports. UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. KeyCorp raised their target price on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Citigroup reduced 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. Finally, StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, ITT has a consensus rating of “Moderate Buy” and an average 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.