LPL Financial LLC Has $5.83 Million Holdings in ITT Inc. (NYSE:ITT)

Key Points

• LPL Financial LLC increased its stake in ITT Inc. by 4.5%, owning approximately 0.06% of the company valued at $5.83 million as of the latest reporting period.
• Analysts have predominantly given ITT a buy rating, with price targets ranging from $170.00 to $202.00, indicating strong market confidence in the stock.
• ITT recently declared a quarterly dividend of $0.351 per share, reflecting an annual yield of 0.8% and a payout ratio of 22.01%.

LPL Financial LLC grew its position in ITT Inc. (NYSE:ITT - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,130 shares of the conglomerate's stock after buying an additional 1,938 shares during the quarter. LPL Financial LLC owned approximately 0.06% of ITT worth $5,829,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ITT by 13.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after acquiring an additional 87 shares in the last quarter. Stephens Inc. AR lifted its position in ITT by 4.8% during the first quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate's stock worth $254,000 after purchasing an additional 90 shares during the period. Prudent Man Advisors LLC lifted its holdings in shares of ITT by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate's stock worth $553,000 after acquiring an additional 98 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in ITT by 0.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate's stock valued at $2,150,000 after purchasing an additional 100 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of ITT by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,609 shares of the conglomerate's stock valued at $1,499,000 after purchasing an additional 123 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Price Performance

Shares of NYSE:ITT traded down $2.18 during trading on Friday, hitting $165.30. 277,391 shares of the stock were exchanged, compared to its average volume of 391,390. 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 Inc. has a 12-month low of $105.64 and a 12-month high of $171.57. The company has a market cap of $12.89 billion, a PE ratio of 25.99, a P/E/G ratio of 2.04 and a beta of 1.38. The company has a fifty day moving average price of $159.03 and a two-hundred day moving average price of $146.22.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%. The company had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same period in the previous year, the firm posted $1.49 EPS. ITT's revenue was up 7.3% on a year-over-year basis. On average, analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's dividend payout ratio is presently 22.01%.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $5,994,792.60. Following the sale, the chief executive officer owned 297,536 shares in the company, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ITT. Citigroup reaffirmed a "buy" rating and set a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. KeyCorp boosted their price objective on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Bank of America upped their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, DA Davidson set a $190.00 target price on ITT and gave the company a "buy" rating in a report on Monday, August 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $179.22.

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.