Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in ITT Inc. (NYSE:ITT)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 15.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,040 shares of the conglomerate's stock after buying an additional 3,930 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ITT were worth $3,880,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP grew its holdings in shares of ITT by 101.6% during the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after buying an additional 125 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of ITT during the fourth quarter valued at about $59,000. Versant Capital Management Inc lifted its position in shares of ITT by 3,513.3% during the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock valued at $70,000 after purchasing an additional 527 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of ITT by 13.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock valued at $107,000 after purchasing an additional 87 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock valued at $103,000 after purchasing an additional 331 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of NYSE ITT traded up $0.45 during midday trading on Monday, hitting $164.49. The company's stock had a trading volume of 96,895 shares, compared to its average volume of 520,222. The stock has a fifty day moving average price of $155.77 and a 200 day moving average price of $145.05. ITT Inc. has a one year low of $105.64 and a one year high of $170.16. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 2.05 and a beta of 1.38.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $947.48 million. During the same quarter in the previous year, the firm posted $1.49 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a $0.351 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. ITT's payout ratio is 22.01%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target 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. Bank of America raised 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 raised their price target on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Citigroup reaffirmed a "buy" rating and issued a $186.00 price objective (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, ITT has a consensus rating of "Moderate Buy" and a consensus price target of $177.88.

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.