Channing Capital Management LLC Sells 1,041 Shares of ITT Inc. (NYSE:ITT)

Channing Capital Management LLC trimmed its holdings in ITT Inc. (NYSE:ITT) by 1.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 82,024 shares of the conglomerate’s stock after selling 1,041 shares during the period. Channing Capital Management LLC’s holdings in ITT were worth $11,720,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ITT. Capital Performance Advisors LLP bought a new position in ITT during the third quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of ITT in the 4th quarter worth $26,000. Resources Management Corp CT ADV purchased a new stake in ITT during the third quarter valued at $30,000. ORG Wealth Partners LLC purchased a new position in ITT in the fourth quarter worth about $30,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of ITT during the 4th quarter valued at about $34,000. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT opened at $135.00 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.89 and a beta of 1.42. The company has a fifty day moving average of $145.08 and a 200 day moving average of $146.09. ITT Inc. has a fifty-two week low of $121.01 and a fifty-two week high of $161.13.

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

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a $0.351 dividend. This is an increase from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. ITT’s payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

ITT has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. UBS Group boosted their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Wolfe Research assumed coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating for the company. Finally, Citigroup dropped their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

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.