Payden & Rygel Boosts Holdings in ITT Inc. (NYSE:ITT)

Payden & Rygel lifted its stake in shares of ITT Inc. (NYSE:ITT) by 32.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,100 shares of the conglomerate’s stock after acquiring an additional 38,000 shares during the period. ITT accounts for about 1.9% of Payden & Rygel’s investment portfolio, making the stock its 11th largest position. Payden & Rygel’s holdings in ITT were worth $22,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ITT. Townsquare Capital LLC boosted its holdings in shares of ITT by 21.1% in the 3rd quarter. Townsquare Capital LLC now owns 2,177 shares of the conglomerate’s stock valued at $325,000 after purchasing an additional 380 shares during the last quarter. Captrust Financial Advisors boosted its holdings in ITT by 5.7% in the third quarter. Captrust Financial Advisors now owns 12,293 shares of the conglomerate’s stock valued at $1,838,000 after acquiring an additional 665 shares during the last quarter. Quantinno Capital Management LP grew its position in ITT by 7.5% during the third quarter. Quantinno Capital Management LP now owns 19,102 shares of the conglomerate’s stock valued at $2,856,000 after acquiring an additional 1,331 shares during the period. Stifel Financial Corp increased its stake in ITT by 1.0% during the third quarter. Stifel Financial Corp now owns 21,455 shares of the conglomerate’s stock worth $3,208,000 after acquiring an additional 221 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after purchasing an additional 26,133 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

NYSE:ITT opened at $113.03 on Friday. The firm has a 50-day moving average of $139.91 and a two-hundred day moving average of $145.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock has a market cap of $9.20 billion, a P/E ratio of 17.94, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a 1-year low of $109.49 and a 1-year high of $161.13.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating 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, research analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were given a dividend of $0.351 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analyst Weigh In

ITT has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. Wolfe Research started coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Citigroup decreased their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group raised their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, KeyCorp upped their target price on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $170.29.

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.