Suncoast Equity Management Purchases 2,001 Shares of ITT Inc. (NYSE:ITT)

Suncoast Equity Management boosted its holdings in ITT Inc. (NYSE:ITT - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,596 shares of the conglomerate's stock after purchasing an additional 2,001 shares during the period. Suncoast Equity Management's holdings in ITT were worth $1,756,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in ITT in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in ITT in the 4th quarter worth about $34,000. Quarry LP raised its stake in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 125 shares during the period. Smartleaf Asset Management LLC raised its stake in ITT by 291.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after acquiring an additional 309 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in ITT during the fourth quarter valued at about $59,000. Institutional investors own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ITT. Bank of America boosted 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, May 21st. Stifel Nicolaus boosted their target price on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a report on Friday, May 16th. The Goldman Sachs Group raised their price target on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, KeyCorp raised their target price on ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. 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 has an average rating of "Moderate Buy" and an average target price of $165.50.

ITT Stock Performance

ITT stock traded up $1.86 during midday trading on Tuesday, hitting $155.21. 424,309 shares of the company's stock were exchanged, compared to its average volume of 452,910. The company has a market cap of $12.22 billion, a P/E ratio of 24.68, a PEG ratio of 1.97 and a beta of 1.35. The stock has a 50-day moving average price of $145.04 and a two-hundred day moving average price of $142.23. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.13.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.44 by $0.01. The company had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. ITT's revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. As a group, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The business also recently disclosed 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 0.90%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio is currently 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.