Oak Thistle LLC Takes Position in ITT Inc. (NYSE:ITT)

Oak Thistle LLC purchased a new position in ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,653 shares of the conglomerate's stock, valued at approximately $730,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quarry LP boosted its position in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of ITT during the 4th quarter valued at approximately $59,000. Versant Capital Management Inc boosted its position in shares of ITT by 3,513.3% during the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock valued at $70,000 after acquiring an additional 527 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of ITT by 72.7% during the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after acquiring an additional 331 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position 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 valued at $107,000 after acquiring an additional 87 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of research reports. Stifel Nicolaus increased their target price on ITT from $171.00 to $197.00 and gave the company a "buy" rating in a research report on Monday. Bank of America raised their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. KeyCorp raised their price target on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. The Goldman Sachs Group raised their price target on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $173.25.

ITT Stock Performance

ITT stock traded up $2.36 during midday trading on Friday, reaching $161.33. The company's stock had a trading volume of 221,537 shares, compared to its average volume of 384,158. The stock has a fifty day simple moving average of $154.46 and a two-hundred day simple moving average of $144.33. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.79. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.01 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 for the quarter, topping analysts' consensus estimates of $1.44 by $0.01. ITT had a return on equity of 17.75% and a net margin of 14.19%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same quarter last year, the firm posted $1.42 earnings per share. The business's revenue was up .3% compared to the same quarter last year. As a group, analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a $0.351 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.87%. ITT's payout ratio is 22.26%.

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.