Bowen Hanes & Co. Inc. Reduces Holdings in ITT Inc. (NYSE:ITT)

Bowen Hanes & Co. Inc. cut its stake in shares of ITT Inc. (NYSE:ITT) by 96.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,310 shares of the conglomerate’s stock after selling 263,410 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in ITT were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Erste Asset Management GmbH boosted its holdings in ITT by 10.6% during the 4th quarter. Erste Asset Management GmbH now owns 52,242 shares of the conglomerate’s stock valued at $7,466,000 after acquiring an additional 5,014 shares during the period. Vestcor Inc purchased a new stake in ITT during the 4th quarter valued at about $675,000. EverSource Wealth Advisors LLC raised its position in ITT by 10.0% during 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. Sequoia Financial Advisors LLC raised its position in ITT by 5.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 27,066 shares of the conglomerate’s stock valued at $3,867,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in ITT during the 4th quarter valued at approximately $6,010,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Down 1.2 %

Shares of NYSE:ITT opened at $132.29 on Thursday. ITT Inc. has a 52-week low of $121.01 and a 52-week high of $161.13. The firm has a market capitalization of $10.77 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.89 and a beta of 1.42. The stock has a 50 day moving average price of $144.69 and a 200-day moving average price of $145.96. 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 posted its quarterly earnings data 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%. As a group, equities research analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is 22.22%.

Wall Street Analyst Weigh In

ITT has been the subject of a number of recent analyst reports. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. KeyCorp upped their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Citigroup lowered their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus lowered their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $168.38.

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.