ITT Inc. (NYSE:ITT) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in ITT Inc. (NYSE:ITT - Free Report) by 107.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,794 shares of the conglomerate's stock after purchasing an additional 1,963 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in ITT were worth $490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ITT. Charles Schwab Investment Management Inc. increased its position in shares of ITT by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock worth $73,913,000 after purchasing an additional 3,424 shares during the last quarter. Merit Financial Group LLC purchased a new position in ITT during the first quarter worth about $273,000. AlphaQuest LLC boosted its stake in ITT by 422.7% during the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock worth $601,000 after buying an additional 3,403 shares during the period. Intech Investment Management LLC increased its position in shares of ITT by 218.0% during the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock valued at $2,008,000 after acquiring an additional 9,633 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of ITT by 19.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock valued at $2,267,000 after acquiring an additional 2,917 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ITT. KeyCorp increased their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Bank of America upped their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group lifted their price objective on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Citigroup cut their price objective on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen upgraded 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 nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.50.

ITT Trading Up 0.6%

NYSE:ITT traded up $0.96 during midday trading on Thursday, reaching $161.13. The company had a trading volume of 78,250 shares, compared to its average volume of 452,056. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.36. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 2.07 and a beta of 1.35. The stock's fifty day simple moving average is $149.14 and its 200-day simple moving average is $142.60.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same quarter last year, the company earned $1.42 EPS. ITT's revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, June 2nd. ITT's dividend payout ratio (DPR) is presently 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.