State of New Jersey Common Pension Fund D Sells 4,783 Shares of ITT Inc. (NYSE:ITT)

State of New Jersey Common Pension Fund D reduced its position in ITT Inc. (NYSE:ITT) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,038 shares of the conglomerate’s stock after selling 4,783 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in ITT were worth $4,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bfsg LLC bought a new stake in shares of ITT during the 4th quarter valued at approximately $73,000. GAMMA Investing LLC bought a new stake in shares of ITT during the 4th quarter valued at approximately $94,000. Signaturefd LLC grew its holdings in shares of ITT by 8.2% during the 4th quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 87 shares during the last quarter. AIA Group Ltd grew its holdings in shares of ITT by 104.4% during the 4th quarter. AIA Group Ltd now owns 19,411 shares of the conglomerate’s stock valued at $2,316,000 after purchasing an additional 9,914 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ITT by 3.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,772 shares of the conglomerate’s stock valued at $2,836,000 after purchasing an additional 822 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. DA Davidson boosted their target price on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. KeyCorp boosted their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Stifel Nicolaus boosted their price target on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT has an average rating of “Buy” and an average price target of $135.57.

ITT Trading Up 0.7 %

Shares of ITT stock opened at $131.10 on Friday. ITT Inc. has a 12 month low of $75.82 and a 12 month high of $138.29. The firm has a market capitalization of $10.78 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 1.78 and a beta of 1.43. The firm has a fifty day simple moving average of $128.97 and a two-hundred day simple moving average of $117.52.

ITT (NYSE:ITT) last posted its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The firm had revenue of $829.10 million during the quarter, compared to analyst estimates of $814.38 million. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that ITT Inc. will post 5.8 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.319 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.28 annualized dividend and a dividend yield of 0.97%. ITT’s dividend payout ratio is presently 25.81%.

ITT Company 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.