Ritholtz Wealth Management Acquires New Shares in ITT Inc. (NYSE:ITT)

Ritholtz Wealth Management bought a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,697 shares of the conglomerate's stock, valued at approximately $219,000.

Several other large investors have also bought and sold shares of ITT. CIBC Asset Management Inc raised its position in ITT by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate's stock worth $362,000 after purchasing an additional 125 shares during the last quarter. Venturi Wealth Management LLC raised its position in ITT by 880.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock worth $308,000 after purchasing an additional 1,936 shares during the last quarter. Private Advisor Group LLC raised its position in ITT by 3.7% during the 4th quarter. Private Advisor Group LLC now owns 8,341 shares of the conglomerate's stock worth $1,192,000 after purchasing an additional 298 shares during the last quarter. Ieq Capital LLC bought a new position in ITT during the 4th quarter worth $411,000. Finally, Handelsbanken Fonder AB raised its position in ITT by 17.1% during the 4th quarter. Handelsbanken Fonder AB now owns 19,900 shares of the conglomerate's stock worth $2,843,000 after purchasing an additional 2,900 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITT. Stifel Nicolaus raised their target price on ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Bank of America lifted their price objective on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. KeyCorp lifted their price objective on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Citigroup lowered their price objective on ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research report 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 data from MarketBeat, ITT currently has an average rating of "Moderate Buy" and an average price target of $165.50.

ITT Price Performance

Shares of ITT stock opened at $150.83 on Friday. ITT Inc. has a one year low of $105.64 and a one year high of $161.13. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.97 and a beta of 1.35. The business has a 50-day simple moving average of $144.51 and a 200 day simple moving average of $142.45.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, May 1st. The conglomerate reported $1.45 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 business 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 company posted $1.42 EPS. The firm's revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.351 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.93%. ITT's dividend payout ratio (DPR) is currently 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.

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