HB Wealth Management LLC Makes New Investment in ITT Inc. (NYSE:ITT)

HB Wealth Management LLC acquired a new stake in ITT Inc. (NYSE:ITT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,693 shares of the conglomerate’s stock, valued at approximately $348,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP increased its stake in ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 125 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of ITT during the fourth quarter valued at about $59,000. Versant Capital Management Inc increased its position in shares of ITT by 3,513.3% during the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate’s stock worth $70,000 after acquiring an additional 527 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of ITT by 72.7% in the 1st quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock worth $103,000 after acquiring an additional 331 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in ITT by 13.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate’s stock valued at $107,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ITT shares. Citigroup reissued a “buy” rating and set a $186.00 price objective (up from $159.00) on shares of ITT in a report on Monday, July 14th. Wall Street Zen raised ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Stifel Nicolaus increased their price target on ITT from $197.00 to $202.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp raised their price objective on ITT from $180.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Bank of America increased their target price on shares of ITT from $145.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.88.

ITT Trading Down 3.5%

NYSE ITT opened at $163.96 on Friday. The business’s fifty day moving average is $155.77 and its 200-day moving average is $145.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.80. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 2.14 and a beta of 1.38. ITT Inc. has a one year low of $105.64 and a one year high of $170.16.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping the consensus estimate of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The business had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. During the same quarter in the previous year, the firm posted $1.49 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts predict that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be given a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. ITT’s dividend payout ratio (DPR) is currently 22.26%.

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.