HB Wealth Management LLC acquired a new position in ITT Inc. (NYSE:ITT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,693 shares of the conglomerate's stock, valued at approximately $348,000.
A number of other large investors also recently modified their holdings of ITT. Quarry LP raised its holdings in shares of 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 purchased a new stake in shares of ITT during the 4th quarter valued at about $59,000. Versant Capital Management Inc grew its stake in ITT by 3,513.3% during the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock valued at $70,000 after purchasing an additional 527 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of ITT by 72.7% in the 1st 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 position in ITT by 13.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock valued at $107,000 after purchasing an additional 87 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Bank of America lifted their price target on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. KeyCorp boosted their target price on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday. The Goldman Sachs Group increased their price objective on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Citigroup restated a "buy" rating and set a $186.00 target price (up previously from $159.00) on shares of ITT in a research note on Monday, July 14th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $179.22.
View Our Latest Stock Analysis on ITT
ITT Price Performance
Shares of ITT stock traded down $1.26 during mid-day trading on Tuesday, reaching $165.68. 139,643 shares of the stock were exchanged, compared to its average volume of 520,816. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $170.16. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. The firm has a 50-day simple moving average of $156.16 and a 200 day simple moving average of $145.16. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24.
ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) 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 the consensus estimate of $947.48 million. During the same period last year, the firm posted $1.49 EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts predict that ITT Inc. will post 6.51 EPS for the current fiscal year.
ITT Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is 22.01%.
ITT Company Profile
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Free Report)
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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