Running Oak Capital LLC Buys 13,737 Shares of ITT Inc. (NYSE:ITT)

Running Oak Capital LLC grew its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 13.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,181 shares of the conglomerate's stock after buying an additional 13,737 shares during the quarter. Running Oak Capital LLC owned 0.14% of ITT worth $14,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Suncoast Equity Management boosted its holdings in shares of ITT by 17.3% during the first quarter. Suncoast Equity Management now owns 13,596 shares of the conglomerate's stock worth $1,756,000 after purchasing an additional 2,001 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of ITT by 2.6% during the first quarter. State of Alaska Department of Revenue now owns 9,536 shares of the conglomerate's stock worth $1,231,000 after purchasing an additional 240 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of ITT during the first quarter worth about $219,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ITT by 12.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,147 shares of the conglomerate's stock worth $1,311,000 after purchasing an additional 1,098 shares during the period. Finally, Everhart Financial Group Inc. boosted its holdings in shares of ITT by 7.2% during the first quarter. Everhart Financial Group Inc. now owns 8,902 shares of the conglomerate's stock worth $1,150,000 after purchasing an additional 600 shares during the period. 91.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ITT has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 14th. Stifel Nicolaus raised their price objective on shares of ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. The Goldman Sachs Group raised their price objective on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, Bank of America raised their price objective on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.50.

ITT Stock Up 1.7%

Shares of ITT stock traded up $2.60 during trading hours on Monday, hitting $153.41. 284,259 shares of the company's stock traded hands, compared to its average volume of 453,013. The stock's fifty day simple moving average is $144.51 and its two-hundred day simple moving average is $142.25. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The stock has a market cap of $12.07 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.97 and a beta of 1.35.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (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 analyst estimates of $901.22 million. ITT had a net margin of 14.19% and a return on equity of 17.75%. The business's revenue was up .3% on a year-over-year basis. During the same period last year, the business earned $1.42 earnings per share. On average, equities analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio (DPR) is currently 22.26%.

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.