Liberty Wealth Management LLC Makes New $4.56 Million Investment in ITT Inc. (NYSE:ITT)

Key Points

• Liberty Wealth Management LLC has made a new investment of approximately $4.56 million in ITT Inc., purchasing 35,267 shares in the first quarter.
• ITT Inc. reported $1.64 earnings per share for the latest quarter, exceeding analysts' expectations and representing a 7.3% increase in revenue year-over-year.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for ITT, with several firms raising their price targets for the stock, including Bank of America which set a target of $170.00.

Liberty Wealth Management LLC bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,267 shares of the conglomerate's stock, valued at approximately $4,555,000.

A number of other large investors have also bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of ITT by 10.9% in the fourth quarter. American Century Companies Inc. now owns 45,149 shares of the conglomerate's stock valued at $6,451,000 after buying an additional 4,449 shares in the last quarter. LPL Financial LLC boosted its stake in ITT by 3.1% during the 4th quarter. LPL Financial LLC now owns 43,192 shares of the conglomerate's stock valued at $6,171,000 after purchasing an additional 1,316 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of ITT by 10.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,436 shares of the conglomerate's stock worth $1,634,000 after purchasing an additional 1,055 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of ITT by 227.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 917 shares of the conglomerate's stock valued at $131,000 after purchasing an additional 637 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in ITT by 10.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,366 shares of the conglomerate's stock worth $624,000 after buying an additional 407 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITT has been the topic of several analyst reports. Stifel Nicolaus boosted their price target on shares of ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday, August 1st. KeyCorp boosted their price objective on ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Bank of America raised their target price on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Citigroup reissued a "buy" rating and issued a $186.00 price target (up from $159.00) on shares of ITT in a report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $179.22.

ITT Stock Performance

Shares of NYSE:ITT traded down $2.04 during trading on Wednesday, hitting $164.13. 130,477 shares of the company were exchanged, compared to its average volume of 519,752. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $170.16. The company has a market cap of $12.80 billion, a PE ratio of 25.81, a P/E/G ratio of 2.06 and a beta of 1.38. The stock has a 50 day moving average of $156.44 and a 200 day moving average of $145.30.

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

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT's dividend payout ratio (DPR) is presently 22.01%.

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.