CGN Advisors LLC Has $1.58 Million Stock Holdings in ITT Inc. (NYSE:ITT)

CGN Advisors LLC grew its position in ITT Inc. (NYSE:ITT - Free Report) by 45.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,241 shares of the conglomerate's stock after purchasing an additional 3,811 shares during the period. CGN Advisors LLC's holdings in ITT were worth $1,581,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ITT. Rialto Wealth Management LLC acquired a new stake in ITT in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of ITT in the 4th quarter valued at $34,000. Quarry LP lifted its stake in shares of ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC increased its position in ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock worth $59,000 after buying an additional 182 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in ITT during the fourth quarter valued at about $59,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

ITT stock traded down $0.98 during midday trading on Thursday, hitting $149.78. The stock had a trading volume of 330,965 shares, compared to its average volume of 449,138. The firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $137.48 and a 200 day simple moving average of $142.84. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. The business had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share. As a group, equities research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

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 issued 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 0.94%. ITT's payout ratio is presently 22.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. The Goldman Sachs Group increased their price target on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. KeyCorp boosted their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Citigroup lowered their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Bank of America boosted their target price on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, ITT currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.50.

ITT Company 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.