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

Handelsbanken Fonder AB boosted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 19.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,700 shares of the conglomerate's stock after acquiring an additional 3,800 shares during the period. Handelsbanken Fonder AB's holdings in ITT were worth $3,061,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC purchased a new position in shares of ITT in the fourth quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new position in shares of ITT in the fourth quarter worth $34,000. Quarry LP lifted its holdings in shares of ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after buying an additional 125 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of ITT by 79.1% in 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 in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in ITT by 291.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 309 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Down 1.1%

ITT traded down $1.71 on Friday, reaching $150.44. The company's stock had a trading volume of 492,962 shares, compared to its average volume of 450,497. The stock has a 50 day moving average of $141.65 and a two-hundred day moving average of $142.63. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.89 and a beta of 1.35. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data 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. ITT had a return on equity of 18.03% and a net margin of 14.27%. The company had revenue of $913.00 million during the quarter, compared to analysts' expectations of $901.22 million. During the same quarter in the previous year, the business earned $1.42 earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

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

Analyst Ratings Changes

ITT has been the topic of a number of analyst reports. Bank of America boosted their price objective 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. Citigroup dropped their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. KeyCorp raised their price target on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, 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 report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock 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.