Short Interest in ITT Inc. (NYSE:ITT) Rises By 6.4%

ITT Inc. (NYSE:ITT) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 608,900 shares, an increase of 6.4% from the August 31st total of 572,300 shares. Based on an average daily volume of 375,200 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.8% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Bluffs Wealth Management LLC grew its position in shares of ITT by 0.4% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock valued at $2,457,000 after buying an additional 82 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of ITT by 5.9% during the second quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after purchasing an additional 100 shares during the last quarter. HBK Sorce Advisory LLC increased its position in shares of ITT by 4.7% during the first quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock worth $314,000 after purchasing an additional 104 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of ITT by 38.7% in the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock valued at $58,000 after purchasing an additional 118 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of ITT by 2.7% in the 2nd quarter. Private Advisor Group LLC now owns 4,608 shares of the conglomerate’s stock valued at $595,000 after purchasing an additional 122 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Down 1.7 %

Shares of ITT traded down $2.50 during midday trading on Tuesday, hitting $147.01. The company had a trading volume of 35,327 shares, compared to its average volume of 380,747. The company’s 50-day simple moving average is $137.16 and its 200-day simple moving average is $133.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. ITT has a 1 year low of $91.94 and a 1 year high of $152.21. The firm has a market capitalization of $12.10 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.89 and a beta of 1.40.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter in the previous year, the business posted $1.33 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that ITT will post 5.84 EPS for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is 24.90%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. KeyCorp boosted their price objective on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. TD Cowen upped their price objective on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Stifel Nicolaus lifted their price objective on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $151.00.

ITT Company 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.