CX Institutional Buys New Stake in ITT Inc. (NYSE:ITT)

CX Institutional bought a new stake in ITT Inc. (NYSE:ITT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 825 shares of the conglomerate’s stock, valued at approximately $107,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in ITT by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock worth $73,913,000 after buying an additional 3,424 shares during the period. Venturi Wealth Management LLC boosted its holdings in ITT by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock valued at $308,000 after purchasing an additional 1,936 shares during the last quarter. AlphaQuest LLC increased its stake in shares of ITT by 422.7% in the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock worth $601,000 after buying an additional 3,403 shares during the last quarter. ING Groep NV acquired a new stake in ITT during the fourth quarter valued at approximately $1,214,000. Finally, Intech Investment Management LLC lifted its position in shares of ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate’s stock worth $2,008,000 after buying an additional 9,633 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

ITT has been the subject of a number of recent analyst reports. Bank of America increased their price objective on ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st. The Goldman Sachs Group upped their price target on ITT from $160.00 to $177.00 and gave the company a “buy” rating in a report on Monday, May 19th. Citigroup cut their price target on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. KeyCorp lifted their target price on ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.50.

ITT Price Performance

NYSE ITT opened at $151.78 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $142.43 and a 200 day simple moving average of $142.42. The company has a market cap of $11.95 billion, a P/E ratio of 24.09, a P/E/G ratio of 1.89 and a beta of 1.35. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. The business had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $901.22 million. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Monday, June 2nd. ITT’s dividend payout ratio is 22.26%.

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.