Park Avenue Securities LLC Has $503,000 Stock Holdings in ITT Inc. (NYSE:ITT)

Park Avenue Securities LLC increased its holdings in shares of ITT Inc. (NYSE:ITT) by 8.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,700 shares of the conglomerate’s stock after buying an additional 282 shares during the period. Park Avenue Securities LLC’s holdings in ITT were worth $503,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Capital International Investors boosted its position in ITT by 0.3% during the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock worth $1,123,533,000 after buying an additional 29,057 shares during the period. Vanguard Group Inc. lifted its position in shares of ITT by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after purchasing an additional 65,173 shares during the period. Ameriprise Financial Inc. lifted its position in shares of ITT by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock worth $132,581,000 after purchasing an additional 14,857 shares during the period. Norges Bank acquired a new position in shares of ITT in the 4th quarter worth approximately $102,709,000. Finally, Fiduciary Management Inc. WI lifted its position in shares of ITT by 3.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 742,571 shares of the conglomerate’s stock worth $88,604,000 after purchasing an additional 27,210 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of ITT stock opened at $129.21 on Friday. The firm has a market capitalization of $10.63 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. The firm has a fifty day simple moving average of $131.90 and a two-hundred day simple moving average of $126.70. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. ITT Inc. has a 12 month low of $90.33 and a 12 month high of $140.20.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. ITT’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. Analysts forecast 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. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.319 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. ITT’s dividend payout ratio (DPR) is presently 25.10%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target 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. 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. KeyCorp boosted their target price on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Stifel Nicolaus boosted their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, 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 research report on Tuesday, March 26th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $138.38.

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.