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

Farmers & Merchants Investments Inc. has increased its investment in ITT Inc. (NYSE:ITT) by 3.0% during the fourth quarter, as revealed in its latest filing with the SEC. After acquiring an additional 1,846 shares, the institutional investor now holds a total of 63,388 shares of the diversified company's stock. Based on its most recent SEC filing, Farmers & Merchants Investments Inc. owns approximately 0.08% of ITT, valued at $9,057,000.

Institutional Interest in ITT

Several other hedge funds have also recently adjusted their positions in ITT. For instance, Capital Performance Advisors LLP established a new stake in ITT during the third quarter, valued at $26,000. Additionally, Resources Management Corp CT ADV acquired shares worth about $30,000 in the same quarter. ORG Wealth Partners LLC also entered a new position in ITT, valued at around $30,000 during the fourth quarter. UMB Bank n.a. expanded its holdings in ITT by an impressive 315.8% during the third quarter, bringing its total ownership to 237 shares, valued at $35,000 after purchasing an additional 180 shares. Lastly, Private Trust Co. NA increased its stake in ITT by 232.2% during the third quarter, now owning 299 shares worth $45,000 after acquiring another 209 shares. Overall, institutional investors currently own 91.59% of ITT’s stock.

Recent Performance of ITT

The shares of ITT opened at $146.07 recently. The company has a debt-to-equity ratio of 0.08 and favorable liquidity ratios, with a quick ratio of 1.09 and a current ratio of 1.40. ITT boasts a market capitalization of $11.91 billion. The company’s earnings indicators show a price-to-earnings (P/E) ratio of 23.19 and a P/E/G ratio of 1.80, with a beta of 1.41. Over the past year, the stock has reached a low of $118.58 and a high of $161.13.

Latest Earnings and Dividends

On February 6th, ITT released its quarterly earnings results, reporting earnings per share (EPS) of $1.50, slightly exceeding analysts' expectations of $1.48 by $0.02. The company displayed a net margin of 14.27% and a return on equity of 18.03%. Analysts forecast an EPS of 6.33 for ITT for the current fiscal year. In addition, ITT announced a quarterly dividend to be paid on March 31st. Shareholders on record as of March 6th will receive a dividend of $0.351, up from the previous quarterly payment of $0.32. The annualized dividend stands at $1.40, which translates to a dividend yield of 0.96%, with a current dividend payout ratio of 20.32%.

Market Analysts’ Ratings

Market sentiment around ITT has seen some changes as well. Citigroup reduced its target price on the stock from $183.00 to $181.00, maintaining a "buy" rating. Conversely, UBS Group raised its target from $165.00 to $168.00, also issuing a "buy" recommendation. Meanwhile, KeyCorp increased its target price for ITT from $164.00 to $170.00, rating the stock as "overweight." Robert W. Baird adjusted its target from $165.00 to $163.00, maintaining an "outperform" rating. StockNews.com downgraded ITT from a "buy" to a "hold" rating. Overall, two analysts have given a "hold" rating, while eight have rated it a "buy". According to MarketBeat, ITT holds an average rating of "Moderate Buy" and an average price target of $168.38.

Company Overview

ITT Inc., along with its subsidiaries, engages in the manufacture and sale of engineered critical components and tailored technology solutions for various sectors, including transportation, industrial, and energy markets, both domestically and internationally. The company's Motion Technologies segment focuses on producing brake pads, shims, shock absorbers, and components for energy absorption, along with sealing technologies primarily for the transportation industry.

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