LGT Group Foundation Sells 18,156 Shares of ITT Inc. (NYSE:ITT)

LGT Group Foundation lowered its position in ITT Inc. (NYSE:ITT) by 51.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,910 shares of the conglomerate’s stock after selling 18,156 shares during the period. LGT Group Foundation’s holdings in ITT were worth $2,416,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of ITT in the third quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new stake in shares of ITT in the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new stake in shares of ITT in the fourth quarter valued at approximately $34,000. Finally, Private Trust Co. NA increased its holdings in shares of ITT by 232.2% in the third quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 209 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

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

ITT Price Performance

Shares of NYSE ITT opened at $137.30 on Tuesday. The firm has a market cap of $11.18 billion, a PE ratio of 21.79, a PEG 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. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a fifty day moving average price of $145.76 and a 200 day moving average price of $146.01.

ITT (NYSE:ITT) last announced 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 net margin of 14.27% and a return on equity of 18.03%. Research analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. ITT’s dividend payout ratio is presently 22.22%.

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.