Eagle Ridge Investment Management Has $16.71 Million Holdings in ITT Inc. (NYSE:ITT)

Eagle Ridge Investment Management decreased its position in shares of ITT Inc. (NYSE:ITT) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,007 shares of the conglomerate’s stock after selling 12,818 shares during the quarter. ITT comprises 1.6% of Eagle Ridge Investment Management’s holdings, making the stock its 20th largest holding. Eagle Ridge Investment Management’s holdings in ITT were worth $16,706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITT. IFP Advisors Inc grew its holdings in ITT by 63.4% during the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock worth $30,000 after buying an additional 118 shares in the last quarter. AdvisorNet Financial Inc boosted its position in ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after purchasing an additional 204 shares during the last quarter. Clearstead Advisors LLC boosted its position in ITT by 81.7% in the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock worth $54,000 after purchasing an additional 250 shares during the last quarter. Bfsg LLC purchased a new position in ITT in the fourth quarter worth $73,000. Finally, GAMMA Investing LLC purchased a new position in ITT in the fourth quarter worth $94,000. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

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

ITT Stock Up 1.0 %

ITT traded up $1.37 during trading on Monday, reaching $132.57. 135,254 shares of the company were exchanged, compared to its average volume of 350,712. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 1.80 and a beta of 1.43. The company’s 50-day moving average is $128.97 and its two-hundred day moving average is $117.76. ITT Inc. has a 12-month low of $75.82 and a 12-month high of $138.29.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The business 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 company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.29 EPS. Equities analysts forecast that ITT Inc. will post 5.8 earnings per share for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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. This represents a $1.28 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Thursday, March 7th. ITT’s dividend payout ratio is currently 25.81%.

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.