Sovereign s Capital Management LLC Invests $712,000 in ITT Inc. (NYSE:ITT)

Sovereign s Capital Management LLC purchased a new position in ITT Inc. (NYSE:ITT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,982 shares of the conglomerate's stock, valued at approximately $712,000.

Several other institutional investors have also recently made changes to their positions in the company. Select Equity Group L.P. increased its holdings in shares of ITT by 7.7% in the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after purchasing an additional 326,947 shares during the period. Invesco Ltd. grew its position in ITT by 12.2% in the fourth quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate's stock worth $222,947,000 after acquiring an additional 169,054 shares in the last quarter. Alliancebernstein L.P. grew its position in ITT by 14.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate's stock worth $195,256,000 after acquiring an additional 169,944 shares in the last quarter. Nuveen Asset Management LLC grew its position in ITT by 17.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate's stock worth $162,784,000 after acquiring an additional 171,474 shares in the last quarter. Finally, Norges Bank purchased a new position in ITT in the fourth quarter worth $134,433,000. Institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Bank of America upped their target price on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday. KeyCorp upped their target price 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. The Goldman Sachs Group upped their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, UBS Group upped their target price on shares of ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. One 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.com, ITT presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.50.

ITT Trading Down 0.6%

NYSE ITT traded down $0.83 during trading on Friday, hitting $147.43. 380,826 shares of the company's stock traded hands, compared to its average volume of 456,390. The stock has a fifty day moving average of $135.15 and a two-hundred day moving average of $142.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The firm has a market cap of $11.60 billion, a P/E ratio of 23.40, a PEG ratio of 1.89 and a beta of 1.36.

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 the consensus estimate of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. 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 prior year, the business posted $1.42 earnings per share. The company's revenue was up .3% on a year-over-year basis. As a group, sell-side analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a dividend of $0.351 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.95%. ITT's dividend payout ratio 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.