Victory Capital Management Inc. Sells 27,983 Shares of ITT Inc. (NYSE:ITT)

Victory Capital Management Inc. reduced its position in ITT Inc. (NYSE:ITT) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 278,533 shares of the conglomerate’s stock after selling 27,983 shares during the quarter. Victory Capital Management Inc.’s holdings in ITT were worth $39,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ITT. M&T Bank Corp lifted its stake in ITT by 1.3% during the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after purchasing an additional 69 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of ITT by 0.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock worth $1,641,000 after acquiring an additional 81 shares during the period. CIBC Asset Management Inc grew its holdings in shares of ITT by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after acquiring an additional 87 shares during the period. Round Rock Advisors LLC grew its stake in shares of ITT by 0.4% in the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after buying an additional 90 shares during the last quarter. Finally, Tectonic Advisors LLC grew its stake in shares of ITT by 4.2% in the 4th quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after buying an additional 123 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ITT. Stifel Nicolaus lowered their price objective on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. Citigroup reduced their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group increased their price target 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 objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.38.

ITT Trading Up 1.0 %

Shares of ITT stock opened at $138.82 on Friday. The firm has a market capitalization of $11.30 billion, a PE ratio of 22.04, a P/E/G ratio of 1.89 and a beta of 1.42. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13. The firm’s 50-day moving average price is $145.22 and its 200 day moving average price is $146.01.

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

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is currently 22.22%.

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.