Simplicity Solutions LLC Takes Position in ITT Inc. (NYSE:ITT)

Simplicity Solutions LLC purchased a new stake in ITT Inc. (NYSE:ITT) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,672 shares of the conglomerate’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors L.P. boosted its holdings in shares of ITT by 28.7% in the third quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate’s stock valued at $7,286,000 after buying an additional 16,614 shares during the period. Assenagon Asset Management S.A. boosted its holdings in ITT by 198.0% during the third quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate’s stock worth $6,302,000 after purchasing an additional 42,767 shares during the last quarter. Raymond James & Associates boosted its holdings in ITT by 17.0% during the fourth quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate’s stock worth $8,903,000 after purchasing an additional 10,853 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in ITT by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock worth $169,581,000 after purchasing an additional 5,495 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in ITT by 46.6% during the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock worth $60,130,000 after purchasing an additional 195,111 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

ITT has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. DA Davidson increased their target price on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. KeyCorp increased their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Citigroup upped their price target on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ITT currently has an average rating of “Buy” and a consensus target price of $135.57.

ITT Trading Down 0.1 %

NYSE ITT opened at $124.99 on Friday. The firm’s fifty day moving average price is $128.31 and its two-hundred day moving average price is $116.40. ITT Inc. has a 1 year low of $75.82 and a 1 year high of $138.29. The firm has a market capitalization of $10.28 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 1.71 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 the consensus estimate of $1.34. The firm had revenue of $829.10 million for the quarter, compared to analyst estimates of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. On average, research analysts anticipate that ITT Inc. will post 5.79 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 given a $0.319 dividend. The ex-dividend date was Thursday, March 7th. This is a positive change from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.02%. ITT’s dividend payout ratio is presently 25.81%.

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.