Handelsbanken Fonder AB Increases Position in ITT Inc. (NYSE:ITT)

Handelsbanken Fonder AB boosted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,700 shares of the conglomerate's stock after purchasing an additional 3,800 shares during the quarter. Handelsbanken Fonder AB's holdings in ITT were worth $3,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in ITT during the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new stake in ITT during the 4th quarter valued at approximately $34,000. Quarry LP raised its stake 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 purchasing an additional 125 shares during the period. V Square Quantitative Management LLC raised its stake in ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 182 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in ITT by 291.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 309 shares during the period. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Citigroup cut their price objective on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Bank of America upped their target price on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group raised their price objective on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $165.50.

ITT Trading Down 1.5%

ITT traded down $2.27 on Tuesday, hitting $149.66. 398,553 shares of the company were exchanged, compared to its average volume of 449,904. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 1.99 and a beta of 1.35. The firm has a 50-day moving average price of $142.93 and a two-hundred day moving average price of $142.47. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13.

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, beating the consensus estimate of $1.44 by $0.01. The firm had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. The firm's revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. Equities analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $0.351 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 0.94%. ITT's dividend payout ratio is currently 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.