ITT Inc. (NYSE:ITT) Short Interest Update

ITT Inc. (NYSE:ITT - Get Free Report) saw a significant decline in short interest in April. As of April 15th, there was short interest totalling 1,010,000 shares, a decline of 7.3% from the March 31st total of 1,090,000 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average trading volume of 370,200 shares, the short-interest ratio is currently 2.7 days.

ITT Trading Down 0.0 %

Shares of ITT traded down $0.05 during midday trading on Wednesday, reaching $129.29. The stock had a trading volume of 723,226 shares, compared to its average volume of 358,824. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43. The company's 50-day moving average is $129.28 and its 200 day moving average is $118.21. ITT has a 12-month low of $75.82 and a 12-month high of $138.29.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, hitting analysts' consensus estimates of $1.34. The company had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. ITT's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. Research analysts forecast that ITT will post 5.8 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.319 per share. This is a boost from ITT's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 7th. ITT's dividend payout ratio (DPR) is 25.81%.

Hedge Funds Weigh In On ITT

A number of large investors have recently bought and sold shares of the stock. Capital International Investors grew its holdings in shares of ITT by 0.3% in the fourth quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate's stock worth $1,123,533,000 after purchasing an additional 29,057 shares during the last quarter. Vanguard Group Inc. grew its holdings in ITT by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate's stock worth $1,009,902,000 after acquiring an additional 65,173 shares during the last quarter. FMR LLC raised its stake in shares of ITT by 1.9% during the third quarter. FMR LLC now owns 7,581,649 shares of the conglomerate's stock valued at $742,319,000 after acquiring an additional 144,394 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in ITT by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate's stock valued at $169,581,000 after purchasing an additional 5,495 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in ITT by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate's stock worth $132,581,000 after buying an additional 14,857 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of ITT from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 6th. DA Davidson boosted their target price on ITT from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, March 26th. Citigroup upped their target price on ITT from $139.00 to $157.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price target on ITT from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, April 17th. Finally, KeyCorp upped their price objective on shares of ITT from $136.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $135.57.

About ITT

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.

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