Fulton Bank N.A. Takes Position in ITT Inc. (NYSE:ITT)

Fulton Bank N.A. acquired a new stake in ITT Inc. (NYSE:ITT) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,250 shares of the conglomerate’s stock, valued at approximately $306,000.

A number of other large investors have also added to or reduced their stakes in ITT. Ontario Teachers Pension Plan Board acquired a new position in shares of ITT during the fourth quarter worth $992,000. Norges Bank acquired a new position in ITT during the 4th quarter worth about $102,709,000. Natixis Advisors L.P. grew its position in shares of ITT by 28.7% in the 3rd quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate’s stock valued at $7,286,000 after buying an additional 16,614 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of ITT in the fourth quarter valued at about $951,000. Finally, SageView Advisory Group LLC bought a new position in shares of ITT during the fourth quarter worth about $247,000. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

ITT Trading Down 0.1 %

NYSE:ITT opened at $129.78 on Friday. ITT Inc. has a 12 month low of $85.92 and a 12 month high of $140.20. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.68 and a beta of 1.44. The firm has a fifty day simple moving average of $131.64 and a two-hundred day simple moving average of $126.12.

ITT (NYSE:ITT) last issued its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The company had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. During the same period last year, the business posted $1.17 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts expect that ITT Inc. will post 5.85 EPS for the current fiscal year.

ITT Announces Dividend

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

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.