IFP Advisors Inc Has $223,000 Holdings in ITT Inc. (NYSE:ITT)

IFP Advisors Inc increased its holdings in shares of ITT Inc. (NYSE:ITT) by 330.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,728 shares of the conglomerate’s stock after purchasing an additional 1,327 shares during the quarter. IFP Advisors Inc’s holdings in ITT were worth $223,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Select Equity Group L.P. boosted its holdings in shares of ITT by 7.7% in the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate’s stock valued at $652,237,000 after buying an additional 326,947 shares during the last quarter. Invesco Ltd. raised its position in ITT by 12.2% during the fourth quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate’s stock worth $222,947,000 after acquiring an additional 169,054 shares in the last quarter. Alliancebernstein L.P. raised its position in ITT by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock worth $195,256,000 after acquiring an additional 169,944 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in ITT by 17.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,139,303 shares of the conglomerate’s stock valued at $162,784,000 after acquiring an additional 171,474 shares during the last quarter. Finally, Norges Bank bought a new position in shares of ITT in the 4th quarter valued at about $134,433,000. Institutional investors own 91.59% of the company’s stock.

ITT Trading Up 1.5%

NYSE:ITT opened at $161.33 on Monday. The stock has a 50 day simple moving average of $154.46 and a 200 day simple moving average of $144.35. The stock has a market cap of $12.70 billion, a P/E ratio of 25.65, a PEG ratio of 2.04 and a beta of 1.35. ITT Inc. has a 1-year low of $105.64 and a 1-year high of $161.79.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.01. ITT had a return on equity of 17.75% and a net margin of 14.19%. The firm had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $901.22 million. During the same quarter last year, the business earned $1.42 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were given a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, June 2nd. ITT’s dividend payout ratio is 22.26%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ITT shares. The Goldman Sachs Group raised their target price on shares of ITT from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Citigroup reaffirmed a “buy” rating and issued a $186.00 price objective (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Wall Street Zen upgraded ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Bank of America increased their price target on ITT from $145.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, May 21st. Finally, KeyCorp lifted their price objective on shares of ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.25.

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.