Assenagon Asset Management S.A. Boosts Stake in ITT Inc. (NYSE:ITT)

Assenagon Asset Management S.A. boosted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,551 shares of the conglomerate's stock after buying an additional 2,917 shares during the quarter. Assenagon Asset Management S.A.'s holdings in ITT were worth $2,267,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Handelsbanken Fonder AB raised its position in shares of ITT by 19.1% in the 1st quarter. Handelsbanken Fonder AB now owns 23,700 shares of the conglomerate's stock worth $3,061,000 after acquiring an additional 3,800 shares in the last quarter. SG Americas Securities LLC raised its holdings in ITT by 544.7% in the first quarter. SG Americas Securities LLC now owns 4,597 shares of the conglomerate's stock worth $594,000 after purchasing an additional 3,884 shares in the last quarter. GAMMA Investing LLC raised its holdings in ITT by 8.3% in the first quarter. GAMMA Investing LLC now owns 1,660 shares of the conglomerate's stock worth $214,000 after purchasing an additional 127 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of ITT during the first quarter valued at about $441,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of ITT by 72.7% in the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after buying an additional 331 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

ITT Stock Performance

NYSE ITT traded up $0.58 during trading hours on Friday, reaching $151.24. The stock had a trading volume of 271,299 shares, compared to its average volume of 541,721. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.13. The stock has a fifty day moving average of $144.00 and a 200 day moving average of $142.49. The stock has a market cap of $11.90 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.35.

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

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.351 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.93%. ITT's payout ratio is currently 22.26%.

Analyst Upgrades and Downgrades

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

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.