Pallas Capital Advisors LLC Takes $441,000 Position in ITT Inc. (NYSE:ITT)

Pallas Capital Advisors LLC purchased a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,412 shares of the conglomerate's stock, valued at approximately $441,000.

A number of other institutional investors also recently made changes to their positions in ITT. Savant Capital LLC raised its stake in ITT by 3.5% in the 4th quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate's stock valued at $583,000 after purchasing an additional 137 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of ITT by 35.3% during the fourth quarter. Van ECK Associates Corp now owns 70,366 shares of the conglomerate's stock worth $10,054,000 after buying an additional 18,370 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after buying an additional 182 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of ITT by 0.6% during the fourth quarter. Rhumbline Advisers now owns 221,315 shares of the conglomerate's stock valued at $31,621,000 after buying an additional 1,222 shares during the period. Finally, Everhart Financial Group Inc. lifted its stake in shares of ITT by 8.0% during the fourth quarter. Everhart Financial Group Inc. now owns 8,302 shares of the conglomerate's stock valued at $1,186,000 after buying an additional 617 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ITT. KeyCorp boosted their price target on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus upped their target price on ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Citigroup reduced their target price on ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Bank of America lifted their price target on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $165.50.

ITT Stock Performance

ITT stock traded down $1.71 during midday trading on Friday, reaching $150.44. The company had a trading volume of 492,962 shares, compared to its average volume of 449,514. The firm has a market capitalization of $11.84 billion, a PE ratio of 23.88, a P/E/G ratio of 1.89 and a beta of 1.35. The stock has a 50 day moving average price of $140.89 and a 200 day moving average price of $142.69. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT - Get Free Report) last posted its 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 net margin of 14.27% and a return on equity of 18.03%. The firm had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same period in the previous year, the business posted $1.42 EPS. ITT's revenue was up .3% on a year-over-year basis. Analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Monday, June 2nd. 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.