Pier 88 Investment Partners LLC Trims Holdings in ITT Inc. (NYSE:ITT)

Pier 88 Investment Partners LLC reduced its holdings in shares of ITT Inc. (NYSE:ITT) by 3.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 26,740 shares of the conglomerate’s stock after selling 1,090 shares during the period. ITT makes up 0.8% of Pier 88 Investment Partners LLC’s investment portfolio, making the stock its 27th largest holding. Pier 88 Investment Partners LLC’s holdings in ITT were worth $3,821,000 as of its most recent SEC filing.

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

ITT Stock Down 4.1 %

ITT opened at $128.56 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market cap 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 one year low of $121.01 and a one year high of $161.13. The business’s fifty day moving average is $142.63 and its two-hundred day moving average is $146.11.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. 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 is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Thursday, March 6th. ITT’s payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

ITT has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Citigroup cut 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. 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 stock a “buy” rating in a research note on Friday, February 7th. Finally, KeyCorp raised their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, ITT has a consensus rating of “Moderate Buy” and an average target price of $170.29.

About ITT

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.