Twin Capital Management Inc. Makes New $714,000 Investment in ITT Inc. (NYSE:ITT)

Twin Capital Management Inc. purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,528 shares of the conglomerate's stock, valued at approximately $714,000.

Other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. raised its stake in ITT by 13.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after buying an additional 87 shares in the last quarter. Stephens Inc. AR raised its stake in ITT by 4.8% in the first quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate's stock worth $254,000 after buying an additional 90 shares in the last quarter. Prudent Man Advisors LLC grew its holdings in ITT by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate's stock worth $553,000 after purchasing an additional 98 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in ITT by 0.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate's stock worth $2,150,000 after purchasing an additional 100 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in ITT by 1.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,609 shares of the conglomerate's stock worth $1,499,000 after purchasing an additional 123 shares during the period. 91.59% of the stock is owned by institutional investors.

ITT Trading Down 0.2%

Shares of ITT stock traded down $0.32 during trading hours on Thursday, reaching $159.67. 114,771 shares of the stock were exchanged, compared to its average volume of 522,679. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.79. The company's 50-day moving average price is $153.92 and its 200-day moving average price is $143.99. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.35.

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

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a $0.351 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.88%. ITT's dividend payout ratio is currently 22.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of ITT from $171.00 to $197.00 and gave the company a "buy" rating in a report on Monday. The Goldman Sachs Group increased their price objective on shares of ITT from $160.00 to $177.00 and gave the company 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 note on Wednesday, May 7th. Bank of America lifted their price target on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, KeyCorp raised their price objective on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, ITT presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.25.

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.