OMERS ADMINISTRATION Corp Makes New $686,000 Investment in ITT Inc. (NYSE:ITT)

OMERS ADMINISTRATION Corp purchased a new stake in shares of ITT Inc. (NYSE:ITT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,800 shares of the conglomerate's stock, valued at approximately $686,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in ITT by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock valued at $73,913,000 after buying an additional 3,424 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of ITT by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock valued at $308,000 after acquiring an additional 1,936 shares during the last quarter. AlphaQuest LLC boosted its holdings in ITT by 422.7% during the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock valued at $601,000 after acquiring an additional 3,403 shares during the period. ING Groep NV bought a new position in ITT during the 4th quarter worth approximately $1,214,000. Finally, Intech Investment Management LLC increased its stake in ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock worth $2,008,000 after purchasing an additional 9,633 shares during the period. Institutional investors own 91.59% of the company's stock.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of analyst reports. UBS Group increased their price objective on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Bank of America increased their price target on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday. Stifel Nicolaus raised their price target on shares of ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a report on Friday, May 16th. KeyCorp upped their price objective on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Citigroup cut their target price on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.50.

ITT Trading Down 2.3%

NYSE ITT traded down $3.49 during trading on Wednesday, hitting $149.18. The company had a trading volume of 432,758 shares, compared to its average volume of 454,112. The company's fifty day moving average is $134.37 and its 200-day moving average is $142.87. ITT Inc. has a one year low of $105.64 and a one year high of $161.13. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market cap of $11.74 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. The company had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. During the same period in the prior year, the firm earned $1.42 earnings per share. ITT's revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio (DPR) is presently 22.26%.

ITT Company 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.