Farmers & Merchants Investments Inc. Increases Stake in ITT Inc.

Farmers & Merchants Investments Inc. has expanded its holdings in ITT Inc. (NYSE:ITT) by 3.0% during the fourth quarter, according to their latest SEC filing. The institutional investor now owns 63,388 shares of ITT after acquiring an additional 1,846 shares during the quarter. As per the recent filing, Farmers & Merchants Investments holds approximately 0.08% of ITT, valued at about $9,057,000.

Other Institutional Investors in ITT

Several other hedge funds have also adjusted their positions in ITT recently. For example, Capital Performance Advisors LLP created a new position in the third quarter valued at $26,000. Resources Management Corp CT ADV also acquired a new stake in ITT worth approximately $30,000 during the same period. ORG Wealth Partners LLC and UMB Bank n.a. purchased new positions in the fourth quarter, with UMB Bank increasing its stake significantly by 315.8%, now owning 237 shares valued at $35,000.

Moreover, Private Trust Co. NA has raised its stake in ITT by 232.2% in the third quarter, holding now 299 shares worth about $45,000. Currently, institutional investors own around 91.59% of the company's stock.

ITT's Stock Performance

On Friday, shares of ITT opened at $146.07. The company has a debt-to-equity ratio of 0.08, along with a quick ratio of 1.09 and a current ratio of 1.40. With a market cap of $11.91 billion, ITT enjoys a PE ratio of 23.19 and a beta of 1.41. The stock's 50-day and 200-day simple moving averages stand at $147.84 and $144.82, respectively. Over the past year, ITT Inc. has reached a low of $118.58 and a high of $161.13.

Recent Earnings and Dividend Increase

ITT recently posted its quarterly earnings on February 6th, reporting earnings per share of $1.50, which exceeded analysts’ expectations by $0.02. The company reported a net margin of 14.27% and an 18.03% return on equity. Projections indicate that ITT Inc. will achieve an EPS of 6.33 for the current fiscal year.

Additionally, ITT has increased its dividend. The new quarterly dividend, payable on March 31st, is set at $0.351, an increase from the previous $0.32 dividend. The record date for this dividend is March 6th. This change translates to an annualized dividend of $1.40 and a 0.96% dividend yield. The company's dividend payout ratio stands at 20.32%.

Analyst Ratings

Various research firms have weighed in on ITT's stock. Citigroup recently lowered its target price from $183.00 to $181.00 while maintaining a 'buy' rating. Similarly, UBS Group raised its price objective on ITT from $165.00 to $168.00, also giving it a 'buy' rating. KeyCorp has increased its target price from $164.00 to $170.00 and assigned an 'overweight' rating to the stock. In contrast, Robert W. Baird adjusted its target down from $165.00 to $163.00, issuing an 'outperform' rating. Currently, analysts rate ITT as a 'Moderate Buy', with an average price target of $168.38.

About ITT Inc.

ITT Inc. is involved in manufacturing and selling engineered critical components and customized technology solutions for various markets, including transportation, industrial, and energy, both in the U.S. and internationally. The company operates in segments such as Motion Technologies, which produces brake pads, shims, shock absorbers, and energy absorption components, primarily targeting the transportation sector including passenger cars, trucks, and military vehicles.

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