Farmers & Merchants Investments Inc. Sells 710 Shares of ITT Inc. (NYSE:ITT)

Farmers & Merchants Investments Inc. decreased its holdings in ITT Inc. (NYSE:ITT) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,991 shares of the conglomerate’s stock after selling 710 shares during the quarter. Farmers & Merchants Investments Inc. owned about 0.08% of ITT worth $7,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in ITT by 63.4% in the 3rd quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 118 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in ITT in the 3rd quarter worth $34,000. KB Financial Partners LLC purchased a new position in ITT in the 1st quarter worth $36,000. AdvisorNet Financial Inc raised its stake in ITT by 101.0% in the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after acquiring an additional 204 shares during the last quarter. Finally, Clearstead Advisors LLC raised its stake in ITT by 81.7% in the 3rd quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock worth $54,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Up 1.5 %

Shares of NYSE ITT opened at $132.18 on Thursday. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.78 and a beta of 1.43. ITT Inc. has a 52-week low of $75.82 and a 52-week high of $138.29. The business’s 50 day moving average is $126.82 and its two-hundred day moving average is $113.84.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $829.10 million for the quarter, compared to analyst estimates of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 earnings per share. Analysts anticipate that ITT Inc. will post 5.79 EPS for the current fiscal year.

ITT Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ITT shares. DA Davidson lifted their price objective on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Stifel Nicolaus raised their target price on ITT from $122.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Citigroup raised their target price on ITT from $122.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, StockNews.com cut ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT has a consensus rating of “Buy” and an average target price of $124.57.

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.