AIA Group Ltd Invests $236,000 in ITT Inc. (NYSE:ITT)

AIA Group Ltd acquired a new stake in shares of ITT Inc. (NYSE:ITT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,653 shares of the conglomerate’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of ITT during the fourth quarter valued at about $134,433,000. Raymond James Financial Inc. bought a new stake in ITT during the 4th quarter worth approximately $73,762,000. Proficio Capital Partners LLC acquired a new position in ITT in the 4th quarter valued at approximately $19,345,000. Boston Partners raised its stake in shares of ITT by 7.0% during the fourth quarter. Boston Partners now owns 930,069 shares of the conglomerate’s stock valued at $132,915,000 after acquiring an additional 61,132 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of ITT by 34.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 198,550 shares of the conglomerate’s stock worth $28,369,000 after purchasing an additional 50,384 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

NYSE:ITT opened at $131.20 on Wednesday. The firm has a market capitalization of $10.68 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.89 and a beta of 1.42. ITT Inc. has a twelve month low of $121.01 and a twelve month high of $161.13. The company has a fifty day moving average of $141.74 and a 200-day moving average of $146.05. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, sell-side analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is 22.22%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ITT. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus cut their price objective on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Citigroup decreased their target price 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. Wolfe Research assumed coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Finally, UBS Group increased their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.