Vanguard Group Inc. Raises Holdings in ITT Inc. (NYSE:ITT)

Vanguard Group Inc. grew its holdings in ITT Inc. (NYSE:ITT) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,463,809 shares of the conglomerate’s stock after buying an additional 65,173 shares during the quarter. Vanguard Group Inc. owned approximately 10.31% of ITT worth $1,009,902,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ontario Teachers Pension Plan Board purchased a new stake in ITT in the 4th quarter worth approximately $992,000. Norges Bank purchased a new stake in ITT in the 4th quarter worth approximately $102,709,000. Natixis Advisors L.P. lifted its holdings in ITT by 28.7% in the 3rd quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate’s stock worth $7,286,000 after buying an additional 16,614 shares during the period. Quest Partners LLC purchased a new stake in ITT in the 4th quarter worth approximately $951,000. Finally, Coldstream Capital Management Inc. lifted its holdings in ITT by 11.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 6,013 shares of the conglomerate’s stock worth $717,000 after buying an additional 611 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. DA Davidson increased their price objective on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Stifel Nicolaus increased their target price on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Citigroup increased their target price on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. KeyCorp increased their target price on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, UBS Group increased their target price on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $138.38.

ITT Stock Down 0.8 %

ITT stock opened at $129.92 on Friday. ITT Inc. has a twelve month low of $85.92 and a twelve month high of $140.20. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a market cap of $10.69 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The business has a 50 day moving average of $131.62 and a 200 day moving average of $125.99.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. On average, research analysts forecast that ITT Inc. will post 5.85 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, June 3rd. ITT’s payout ratio is 25.10%.

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.