4,000 Shares in ITT Inc. (NYSE:ITT) Purchased by Corient IA LLC

Key Points

• Corient IA LLC purchased 4,000 shares of ITT Inc. valued at approximately $517,000 during the first quarter, indicating growing interest from institutional investors, who now own 91.59% of the company’s stock.
• Several analysts have raised their price targets for ITT shares, with Bank of America increasing it from $145.00 to $170.00 and KeyCorp adjusting it from $180.00 to $192.00, while ten analysts have issued a "buy" rating.
• ITT announced a quarterly dividend of $0.351 per share, with a payout date of September 29th, representing an annualized yield of 0.8% based on current stock prices.

Corient IA LLC acquired a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,000 shares of the conglomerate's stock, valued at approximately $517,000.

Other hedge funds have also bought and sold shares of the company. Quarry LP boosted its stake in ITT by 101.6% during the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after acquiring an additional 125 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in ITT during the fourth quarter worth about $59,000. Versant Capital Management Inc boosted its stake in ITT by 3,513.3% during the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after acquiring an additional 527 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after acquiring an additional 331 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in ITT by 13.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ITT shares. Bank of America upped their target price on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. KeyCorp upped their target price on shares of ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group upped their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, DA Davidson set a $190.00 target price on shares of ITT and gave the stock a "buy" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $179.22.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the transaction, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. This trade represents a 10.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

ITT Stock Down 1.3%

ITT opened at $165.30 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $159.03 and a 200-day moving average price of $146.22. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $171.57. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.04 and a beta of 1.38.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm had revenue of $972.40 million during the quarter, compared to analysts' expectations of $947.48 million. During the same period in the previous year, the company earned $1.49 earnings per share. The firm's quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is currently 22.01%.

ITT 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.

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