Zurcher Kantonalbank Zurich Cantonalbank Has $3.88 Million Stock Position in ITT Inc. (NYSE:ITT)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 15.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 30,040 shares of the conglomerate's stock after purchasing an additional 3,930 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ITT were worth $3,880,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. HB Wealth Management LLC bought a new position in ITT during the first quarter worth about $348,000. TD Asset Management Inc boosted its holdings in shares of ITT by 94.2% during the first quarter. TD Asset Management Inc now owns 140,200 shares of the conglomerate's stock worth $18,108,000 after acquiring an additional 68,000 shares during the period. Cetera Investment Advisers boosted its holdings in shares of ITT by 6.2% during the first quarter. Cetera Investment Advisers now owns 6,652 shares of the conglomerate's stock worth $859,000 after acquiring an additional 390 shares during the period. Machina Capital S.A.S. bought a new stake in shares of ITT during the first quarter worth approximately $261,000. Finally, Oak Thistle LLC bought a new stake in shares of ITT during the first quarter worth approximately $730,000. Institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

ITT has been the subject of a number of research analyst reports. KeyCorp boosted their price objective on ITT from $180.00 to $192.00 and gave the stock an "overweight" rating in a report on Friday. Bank of America boosted their price objective on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup restated a "buy" rating and set a $186.00 price objective (up previously from $159.00) on shares of ITT in a report on Monday, July 14th. Finally, Stifel Nicolaus boosted their price objective on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday. 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, ITT has an average rating of "Moderate Buy" and a consensus price target of $177.88.

ITT Price Performance

Shares of NYSE ITT traded down $6.00 during midday trading on Friday, reaching $163.96. The company's stock had a trading volume of 690,086 shares, compared to its average volume of 390,212. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.80 and a current ratio of 1.45. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $170.16. The business's 50 day moving average price is $155.77 and its two-hundred day moving average price is $145.08. The company has a market cap of $12.90 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.14 and a beta of 1.38.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The company had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same period in the previous year, the business earned $1.49 earnings per share. The firm's quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. ITT's 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.