Wedge Capital Management L L P NC Has $5.96 Million Stake in ITT Inc. (NYSE:ITT)

Wedge Capital Management L L P NC reduced its stake in ITT Inc. (NYSE:ITT) by 45.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,917 shares of the conglomerate’s stock after selling 41,883 shares during the period. Wedge Capital Management L L P NC owned about 0.06% of ITT worth $5,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ITT. Signaturefd LLC raised its holdings in ITT by 8.2% in the 4th quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate’s stock valued at $137,000 after buying an additional 87 shares during the last quarter. State of Michigan Retirement System raised its position in shares of ITT by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 19,729 shares of the conglomerate’s stock worth $2,354,000 after acquiring an additional 100 shares in the last quarter. Round Rock Advisors LLC lifted its stake in shares of ITT by 0.5% in the 4th quarter. Round Rock Advisors LLC now owns 20,183 shares of the conglomerate’s stock valued at $2,408,000 after purchasing an additional 104 shares during the period. Eagle Bluffs Wealth Management LLC grew its stake in ITT by 0.6% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 18,820 shares of the conglomerate’s stock worth $2,246,000 after purchasing an additional 114 shares during the period. Finally, IFP Advisors Inc lifted its position in ITT by 63.4% in the 3rd quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 118 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com lowered ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. DA Davidson raised their price target on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. KeyCorp increased their price objective on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Citigroup boosted their target price on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $135.57.

ITT Trading Up 3.0 %

Shares of NYSE ITT opened at $129.57 on Wednesday. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.72 and a beta of 1.43. ITT Inc. has a 12-month low of $75.82 and a 12-month high of $138.29. The firm’s 50-day moving average price is $128.57 and its 200-day moving average price is $117.12.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. During the same period last year, the firm earned $1.29 earnings per share. ITT’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that ITT Inc. will post 5.8 EPS for the current fiscal 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 given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from ITT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s dividend payout ratio is 25.81%.

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.