Kestra Private Wealth Services LLC Makes New $291,000 Investment in ITT Inc. (NYSE:ITT)

Key Points

• Kestra Private Wealth Services LLC has made a new investment of $291,000 in ITT Inc., acquiring 2,254 shares of the company's stock.
• Institutional investors collectively own 91.59% of ITT's stock, with several major players increasing their stakes in recent quarters.
• ITT recently reported an earnings per share (EPS) of $1.45, beating analysts' expectations, while also announcing a quarterly dividend of $0.351 per share.

Kestra Private Wealth Services LLC bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,254 shares of the conglomerate's stock, valued at approximately $291,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in ITT during the fourth quarter valued at about $134,433,000. T. Rowe Price Investment Management Inc. raised its position in shares of ITT by 63.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock valued at $133,056,000 after buying an additional 360,123 shares during the last quarter. Select Equity Group L.P. increased its position in ITT by 7.7% in the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after purchasing an additional 326,947 shares during the last quarter. GAMMA Investing LLC increased its position in ITT by 13,886.0% in the first quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate's stock worth $27,693,000 after purchasing an additional 212,873 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in ITT in the fourth quarter worth $27,614,000. Institutional investors own 91.59% of the company's stock.

ITT Stock Up 5.1%

Shares of ITT stock traded up $8.17 during midday trading on Thursday, hitting $167.78. The company had a trading volume of 144,870 shares, compared to its average volume of 516,929. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 2.03 and a beta of 1.35. The company has a fifty day simple moving average of $155.01 and a 200 day simple moving average of $144.73. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $167.71.

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, topping the consensus estimate of $1.61 by $0.03. ITT had a net margin of 14.19% and a return on equity of 17.75%. During the same period in the prior year, the firm posted $1.49 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts expect that ITT Inc. will post 6.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ITT. Citigroup reiterated a "buy" rating and issued a $186.00 price target (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. KeyCorp lifted 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. Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Stifel Nicolaus upped their price objective on shares of ITT from $171.00 to $197.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Bank of America upped their price objective on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $173.25.

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.