Farmers & Merchants Investments Inc. Has $9.06 Million Stake in ITT Inc. (NYSE:ITT)

Farmers & Merchants Investments Inc. raised its holdings in ITT Inc. (NYSE:ITT) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 63,388 shares of the conglomerate’s stock after acquiring an additional 1,846 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in ITT were worth $9,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITT. Sanctuary Advisors LLC acquired a new stake in shares of ITT in the second quarter valued at about $489,000. GAMMA Investing LLC increased its position in shares of ITT by 48.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,303 shares of the conglomerate’s stock worth $195,000 after purchasing an additional 427 shares during the last quarter. CWM LLC raised its stake in shares of ITT by 191.4% during the 3rd quarter. CWM LLC now owns 3,879 shares of the conglomerate’s stock worth $580,000 after purchasing an additional 2,548 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares during the last quarter. Finally, Covea Finance grew its stake in shares of ITT by 18.7% in the third quarter. Covea Finance now owns 254,800 shares of the conglomerate’s stock valued at $38,095,000 after buying an additional 40,200 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ITT shares. UBS Group increased their price target on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday. Citigroup dropped their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus reduced their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird reduced their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Down 0.2 %

ITT stock opened at $146.07 on Friday. The business has a 50-day simple moving average of $147.84 and a 200 day simple moving average of $144.82. ITT Inc. has a 52 week low of $118.58 and a 52 week high of $161.13. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market cap of $11.91 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.

ITT (NYSE:ITT) last released its earnings results 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%. Sell-side analysts anticipate that ITT Inc. will post 6.33 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 0.96%. ITT’s payout ratio is presently 20.32%.

ITT 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.