Watchman Group Inc. cut its holdings in shares of ITT Inc. (NYSE:ITT) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,054 shares of the conglomerate’s stock after selling 950 shares during the quarter. ITT accounts for about 2.1% of Watchman Group Inc.’s investment portfolio, making the stock its 16th largest holding. Watchman Group Inc.’s holdings in ITT were worth $3,369,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of ITT by 262.9% in the first quarter. First Trust Advisors LP now owns 49,852 shares of the conglomerate’s stock worth $2,891,000 after purchasing an additional 36,114 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of ITT by 5.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 96,018 shares of the conglomerate’s stock valued at $5,569,000 after buying an additional 4,720 shares during the period. IBM Retirement Fund purchased a new position in shares of ITT during the 4th quarter valued at $243,000. Artemis Investment Management LLP increased its stake in shares of ITT by 61.1% in the fourth quarter. Artemis Investment Management LLP now owns 782,796 shares of the conglomerate’s stock worth $60,383,000 after acquiring an additional 296,840 shares during the last quarter. Finally, Dupont Capital Management Corp raised its holdings in shares of ITT by 203.0% during the fourth quarter. Dupont Capital Management Corp now owns 12,931 shares of the conglomerate’s stock worth $996,000 after acquiring an additional 8,664 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.
Shares of NYSE:ITT traded up $0.73 during trading on Friday, reaching $96.23. The stock had a trading volume of 564,597 shares, compared to its average volume of 501,248. The stock has a fifty day simple moving average of $93.29 and a two-hundred day simple moving average of $81.52. ITT Inc. has a 52 week low of $46.34 and a 52 week high of $101.32. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 55.30, a P/E/G ratio of 2.92 and a beta of 1.54.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 5th. Investors of record on Wednesday, March 17th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Tuesday, March 16th. This is a boost from ITT’s previous quarterly dividend of $0.17. ITT’s payout ratio is currently 23.10%.
In other ITT news, Director Orlando D. Ashford sold 3,032 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $87.47, for a total value of $265,209.04. Following the sale, the director now owns 15,245 shares of the company’s stock, valued at approximately $1,333,480.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by insiders.
ITT has been the topic of several research reports. UBS Group lowered ITT from a “buy” rating to a “neutral” rating and upped their target price for the stock from $92.00 to $107.00 in a research report on Monday, May 10th. They noted that the move was a valuation call. Gordon Haskett downgraded ITT from a “buy” rating to a “hold” rating and increased their price objective for the stock from $89.00 to $101.00 in a report on Thursday. Oppenheimer lifted their target price on shares of ITT from $87.00 to $97.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. Cowen increased their price target on shares of ITT from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, March 25th. Finally, Robert W. Baird raised their price target on shares of ITT from $91.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, March 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $96.63.
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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, light- and heavy-duty commercial and military vehicles, buses, and rail.
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