Alps Advisors Inc. Buys 6,619 Shares of ITT Inc. (NYSE:ITT)

Alps Advisors Inc. increased its stake in ITT Inc. (NYSE:ITT - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,943 shares of the conglomerate's stock after acquiring an additional 6,619 shares during the period. Alps Advisors Inc. owned approximately 0.12% of ITT worth $12,263,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after buying an additional 125 shares during the period. Kapitalo Investimentos Ltda bought a new position in ITT during the fourth quarter valued at $59,000. Versant Capital Management Inc raised its stake in shares of ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock valued at $70,000 after acquiring an additional 527 shares during the period. Farther Finance Advisors LLC raised its stake in shares of ITT by 72.7% in the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after acquiring an additional 331 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of ITT by 13.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after acquiring an additional 87 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ITT. Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. KeyCorp upped their target price on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Stifel Nicolaus raised their price target on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Citigroup dropped their price objective on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Bank of America increased their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $165.50.

ITT Stock Performance

NYSE ITT traded up $0.38 on Friday, reaching $157.94. 374,809 shares of the stock traded hands, compared to its average volume of 458,784. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.79. The company has a market cap of $12.43 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.00 and a beta of 1.35. The company has a fifty day moving average price of $151.76 and a 200-day moving average price of $143.17.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 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 analyst estimates of $901.22 million. During the same quarter last year, the firm posted $1.42 earnings per share. The business's revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.351 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.89%. ITT's dividend payout ratio 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.