ITT Inc. (NYSE:ITT) Stake Lifted by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,143 shares of the conglomerate's stock after buying an additional 5,170 shares during the quarter. Cerity Partners LLC owned approximately 0.07% of ITT worth $7,768,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ITT. Norges Bank bought a new stake in shares of ITT in the 4th quarter worth approximately $134,433,000. T. Rowe Price Investment Management Inc. boosted its position in shares of ITT by 63.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock worth $133,056,000 after purchasing an additional 360,123 shares in the last quarter. Select Equity Group L.P. lifted its position in ITT by 7.7% in the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock valued at $652,237,000 after acquiring an additional 326,947 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of ITT by 13,886.0% in the 1st quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate's stock worth $27,693,000 after purchasing an additional 212,873 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in ITT in the 4th quarter worth $27,614,000. Institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. KeyCorp lifted their target price on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and set a $186.00 price target (up previously from $159.00) on shares of ITT in a research report on Monday. Stifel Nicolaus increased their price objective on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Bank of America raised their target price on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.00.

ITT Price Performance

Shares of NYSE:ITT traded up $1.75 during trading on Thursday, hitting $159.42. 169,700 shares of the company's stock were exchanged, compared to its average volume of 456,184. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.79. The business's 50-day simple moving average is $152.99 and its 200 day simple moving average is $143.54. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.98 and a beta of 1.35.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping 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 company had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same period in the previous year, the business earned $1.42 EPS. ITT's quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, June 2nd. ITT's dividend payout ratio is presently 22.26%.

About ITT

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.