Corebridge Financial Inc. Sells 4,393 Shares of ITT Inc. (NYSE:ITT)

Corebridge Financial Inc. trimmed its holdings in shares of ITT Inc. (NYSE:ITT) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 92,226 shares of the conglomerate’s stock after selling 4,393 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of ITT worth $13,177,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ITT. M&T Bank Corp raised 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 valued at $797,000 after buying an additional 69 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock worth $1,641,000 after purchasing an additional 81 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in ITT by 10.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock valued at $183,000 after purchasing an additional 116 shares in the last quarter. Tectonic Advisors LLC lifted its stake in shares of ITT by 4.2% in the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after buying an additional 123 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of ITT by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock worth $362,000 after purchasing an additional 125 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Trading Down 0.3 %

Shares of ITT stock opened at $139.42 on Wednesday. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market capitalization of $11.35 billion, a P/E ratio of 22.13, a P/E/G ratio of 1.89 and a beta of 1.42. The company has a fifty day moving average of $143.53 and a 200 day moving average of $146.07.

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

ITT Increases Dividend

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

Analyst Upgrades and Downgrades

ITT has been the subject of several research analyst reports. Citigroup reduced their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wolfe Research started coverage on ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. UBS Group increased their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. KeyCorp increased their price target on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

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.