AIA Group Ltd Buys 9,914 Shares of ITT Inc. (NYSE:ITT)

AIA Group Ltd lifted its stake in ITT Inc. (NYSE:ITT) by 104.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 19,411 shares of the conglomerate’s stock after purchasing an additional 9,914 shares during the period. AIA Group Ltd’s holdings in ITT were worth $2,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ITT. IFP Advisors Inc raised its stake in ITT by 63.4% during the 3rd quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after buying an additional 118 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in ITT in the third quarter worth about $34,000. KB Financial Partners LLC bought a new stake in shares of ITT during the 1st quarter valued at about $36,000. AdvisorNet Financial Inc lifted its stake in shares of ITT by 101.0% in the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after purchasing an additional 204 shares during the period. Finally, Clearstead Advisors LLC raised its position in ITT by 81.7% in the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock worth $54,000 after acquiring an additional 250 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

NYSE ITT opened at $125.20 on Friday. The business’s 50 day moving average price is $128.26 and its 200-day moving average price is $116.20. ITT Inc. has a fifty-two week low of $75.82 and a fifty-two week high of $138.29. The company has a market cap of $10.30 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.71 and a beta of 1.43.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The business had revenue of $829.10 million for the quarter, compared to analysts’ expectations of $814.38 million. During the same quarter in the previous year, the business posted $1.29 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that ITT Inc. will post 5.79 EPS for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.319 per share. This is a boost from ITT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.02%. ITT’s dividend payout ratio is currently 25.81%.

Analyst Ratings Changes

Several research firms have recently commented on ITT. KeyCorp upped their price objective on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Citigroup increased their price target on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. DA Davidson raised their target price on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Stifel Nicolaus lifted their price objective on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $135.57.

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.