Cookson Peirce & Co. Inc. Makes New $9.11 Million Investment in ITT Inc. (NYSE:ITT)

Cookson Peirce & Co. Inc. bought a new position in ITT Inc. (NYSE:ITT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 76,360 shares of the conglomerate's stock, valued at approximately $9,111,000. Cookson Peirce & Co. Inc. owned approximately 0.09% of ITT as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ITT. Suncoast Equity Management lifted its stake in ITT by 14.1% during the 4th quarter. Suncoast Equity Management now owns 8,885 shares of the conglomerate's stock valued at $1,060,000 after acquiring an additional 1,100 shares in the last quarter. Eads & Heald Wealth Management lifted its stake in ITT by 18.2% during the 4th quarter. Eads & Heald Wealth Management now owns 4,705 shares of the conglomerate's stock valued at $561,000 after acquiring an additional 725 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in ITT during the 4th quarter valued at $2,756,000. Simplicity Solutions LLC bought a new position in ITT during the 4th quarter valued at $319,000. Finally, Round Rock Advisors LLC increased its position in shares of ITT by 0.5% during the 4th quarter. Round Rock Advisors LLC now owns 20,183 shares of the conglomerate's stock valued at $2,408,000 after purchasing an additional 104 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Trading Down 0.2 %

Shares of ITT traded down $0.22 during trading hours on Tuesday, reaching $127.60. 496,518 shares of the company's stock traded hands, compared to its average volume of 357,647. The firm's 50 day simple moving average is $128.16 and its 200-day simple moving average is $116.08. The stock has a market cap of $10.50 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. ITT Inc. 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. As a group, analysts expect that ITT Inc. will post 5.79 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.319 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.28 annualized dividend and a yield of 1.00%. This is an increase from ITT's previous quarterly dividend of $0.29. ITT's payout ratio is presently 25.81%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ITT shares. KeyCorp raised their target price on ITT from $136.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. DA Davidson raised their target price on ITT from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, March 26th. StockNews.com lowered ITT from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 6th. Stifel Nicolaus lifted their target price on ITT from $122.00 to $131.00 and gave the company a "buy" rating in a report on Tuesday, December 19th. Finally, Citigroup lifted their price target on ITT from $139.00 to $157.00 and gave the company a "buy" rating in a research report on Monday, April 8th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT currently has an average rating of "Buy" and a consensus target price of $132.86.

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.