AIA Group Ltd Invests $236,000 in ITT Inc. (NYSE:ITT)

AIA Group Ltd purchased a new stake in ITT Inc. (NYSE:ITT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,653 shares of the conglomerate’s stock, valued at approximately $236,000.

A number of other hedge funds have also added to or reduced their stakes in ITT. Rialto Wealth Management LLC purchased a new stake in shares of ITT in the fourth quarter worth approximately $26,000. Resources Management Corp CT ADV bought a new stake in ITT during the third quarter worth $30,000. ORG Wealth Partners LLC purchased a new stake in ITT in the 4th quarter valued at $30,000. Whipplewood Advisors LLC bought a new position in ITT during the 4th quarter valued at $34,000. Finally, V Square Quantitative Management LLC boosted its holdings in ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating for the company. KeyCorp increased their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Citigroup reduced their target price on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Stifel Nicolaus decreased 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. Finally, StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $170.29.

ITT Stock Performance

NYSE:ITT opened at $131.20 on Wednesday. The company has a market capitalization of $10.68 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.89 and a beta of 1.42. The business has a fifty day simple moving average of $141.74 and a two-hundred day simple moving average of $146.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. ITT Inc. has a 1 year low of $121.01 and a 1 year high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were given a $0.351 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.07%. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is 22.22%.

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.