ITT Inc. (NYSE:ITT) Stake Boosted by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has increased its investment in ITT Inc. by 7.8%, now holding approximately 55,274 shares worth $7.14 million, as reported in their recent SEC filing.
• Analysts have raised their price targets for ITT, with estimates spanning from $160.00 to $197.00, leading to a consensus rating of "Moderate Buy" with an average target of $173.25.
• ITT has recently declared a quarterly dividend of $0.351 per share, representing an annualized yield of 0.86%, with a dividend payout ratio of 22.26%.

Allianz Asset Management GmbH raised its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,274 shares of the conglomerate's stock after acquiring an additional 4,018 shares during the period. Allianz Asset Management GmbH owned approximately 0.07% of ITT worth $7,139,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new stake in ITT during the first quarter valued at about $273,000. Sequoia Financial Advisors LLC boosted its position in shares of ITT by 10.2% in the first quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock worth $3,853,000 after buying an additional 2,765 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of ITT by 19.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock worth $2,267,000 after buying an additional 2,917 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of ITT by 22.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock worth $1,293,000 after buying an additional 1,659 shares during the period. Finally, Southeast Asset Advisors LLC boosted its position in shares of ITT by 14.3% in the fourth quarter. Southeast Asset Advisors LLC now owns 32,792 shares of the conglomerate's stock worth $4,685,000 after buying an additional 4,097 shares during the period. Hedge funds and other institutional investors own 91.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America upped their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. KeyCorp upped their target price on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Citigroup reiterated a "buy" rating and issued a $186.00 price target (up previously from $159.00) on shares of ITT in a research note on Monday, July 14th. Finally, Stifel Nicolaus boosted their price target on ITT from $171.00 to $197.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.25.

ITT Trading Down 0.6%

NYSE ITT traded down $0.89 on Wednesday, hitting $160.38. 273,031 shares of the stock traded hands, compared to its average volume of 517,546. The stock has a 50-day moving average of $154.80 and a 200 day moving average of $144.63. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $163.55. The company has a market capitalization of $12.62 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 2.05 and a beta of 1.35.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a return on equity of 17.75% and a net margin of 14.19%. The firm had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. ITT's revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities research analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, June 2nd. ITT's dividend payout ratio (DPR) is presently 22.26%.

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.