Charles Schwab Investment Management Inc. Raises Position in ITT Inc. (NYSE:ITT)

Charles Schwab Investment Management Inc. raised its holdings in ITT Inc. (NYSE:ITT) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 522,212 shares of the conglomerate’s stock after buying an additional 4,905 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.66% of ITT worth $67,449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of 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 purchasing an additional 87 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of ITT by 4.8% in the 1st quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate’s stock valued at $254,000 after purchasing an additional 90 shares in the last quarter. Prudent Man Advisors LLC raised its holdings in shares of ITT by 2.3% in the 1st quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 98 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of ITT by 0.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate’s stock valued at $2,150,000 after purchasing an additional 100 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of ITT by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,609 shares of the conglomerate’s stock valued at $1,499,000 after purchasing an additional 123 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ITT shares. Bank of America raised their price objective on shares of ITT from $145.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Stifel Nicolaus lifted their price target on shares of ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Citigroup reiterated a “buy” rating and set a $186.00 price target (up from $159.00) on shares of ITT in a research note on Monday, July 14th. Wall Street Zen upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, KeyCorp lifted their price target on shares of ITT from $180.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.22.

ITT Trading Down 2.0%

NYSE ITT opened at $167.35 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The firm has a market cap of $13.05 billion, a PE ratio of 26.31, a P/E/G ratio of 2.10 and a beta of 1.38. ITT Inc. has a one year low of $105.64 and a one year high of $171.57. The firm’s fifty day moving average is $158.77 and its two-hundred day moving average is $146.10.

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

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be issued a $0.351 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. ITT’s payout ratio is presently 22.01%.

Insider Buying and Selling at ITT

In other news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total value of $5,994,792.60. Following the sale, the chief executive officer owned 297,536 shares of the company’s stock, valued at $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by insiders.

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.