Vest Financial LLC Raises Stake in ITT Inc. (NYSE:ITT)

Vest Financial LLC boosted its position in ITT Inc. (NYSE:ITT - Free Report) by 36.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,136 shares of the conglomerate's stock after acquiring an additional 6,132 shares during the period. Vest Financial LLC's holdings in ITT were worth $2,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in ITT by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock valued at $73,913,000 after acquiring an additional 3,424 shares during the period. Venturi Wealth Management LLC raised its stake in ITT by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock valued at $308,000 after acquiring an additional 1,936 shares during the period. AlphaQuest LLC raised its stake in ITT by 422.7% in the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock valued at $601,000 after acquiring an additional 3,403 shares during the period. ING Groep NV bought a new stake in ITT in the 4th quarter valued at about $1,214,000. Finally, Intech Investment Management LLC raised its stake in ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock valued at $2,008,000 after acquiring an additional 9,633 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Price Performance

Shares of NYSE ITT traded up $2.61 during midday trading on Friday, hitting $152.43. 390,678 shares of the company's stock were exchanged, compared to its average volume of 450,496. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.89 and a beta of 1.36. The business's fifty day moving average price is $138.31 and its two-hundred day moving average price is $142.81.

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. ITT had a return on equity of 18.03% and a net margin of 14.27%. The company had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same quarter in the previous year, the firm earned $1.42 earnings per share. ITT's revenue was up .3% on a year-over-year basis. As a group, research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT's payout ratio is 22.26%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ITT. Bank of America boosted their price objective on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. The Goldman Sachs Group upped their price target on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research report on Monday, May 19th. KeyCorp upped their price target on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, Stifel Nicolaus upped their price target on ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research report on Friday, May 16th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $165.50.

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.