Bleakley Financial Group LLC Purchases New Shares in ITT Inc. (NYSE:ITT)

Bleakley Financial Group LLC purchased a new stake in shares of ITT Inc. (NYSE:ITT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,697 shares of the conglomerate’s stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in ITT by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,763,977 shares of the conglomerate’s stock valued at $507,298,000 after buying an additional 20,326 shares during the period. FMR LLC raised its holdings in ITT by 1.9% during the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock valued at $742,319,000 after buying an additional 144,394 shares during the period. BlackRock Inc. raised its holdings in ITT by 1.0% during the 1st quarter. BlackRock Inc. now owns 7,156,066 shares of the conglomerate’s stock valued at $617,569,000 after buying an additional 68,487 shares during the period. State Street Corp grew its position in ITT by 1.3% in the 1st quarter. State Street Corp now owns 2,291,488 shares of the conglomerate’s stock valued at $198,426,000 after acquiring an additional 29,808 shares during the last quarter. Finally, Select Equity Group L.P. grew its position in ITT by 56.6% in the 1st quarter. Select Equity Group L.P. now owns 2,053,675 shares of the conglomerate’s stock valued at $177,232,000 after acquiring an additional 742,608 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Down 1.6 %

ITT opened at $128.74 on Monday. ITT Inc. has a 12-month low of $75.82 and a 12-month high of $138.29. The business’s fifty day simple moving average is $128.06 and its 200-day simple moving average is $115.67. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.76 and a beta of 1.43.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $829.10 million for 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%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 EPS. On average, equities research analysts predict that ITT Inc. will post 5.79 EPS for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors 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 is 25.81%.

Analyst Upgrades and Downgrades

ITT has been the topic of several research analyst reports. StockNews.com downgraded ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. KeyCorp upped their price objective on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday. DA Davidson upped their price objective on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Citigroup upped their price objective on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upped their price objective on ITT from $122.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus 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.