1,869 Shares in ITT Inc. (NYSE:ITT) Acquired by Scientech Research LLC

Scientech Research LLC purchased a new stake in ITT Inc. (NYSE:ITT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,869 shares of the conglomerate’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ITT. Corient Private Wealth LLC increased its stake in ITT by 73.8% in the fourth quarter. Corient Private Wealth LLC now owns 10,523 shares of the conglomerate’s stock valued at $1,256,000 after purchasing an additional 4,470 shares in the last quarter. Franklin Resources Inc. increased its position in ITT by 142.4% in the 4th quarter. Franklin Resources Inc. now owns 15,924 shares of the conglomerate’s stock valued at $1,900,000 after buying an additional 9,354 shares in the last quarter. Allianz Asset Management GmbH raised its stake in ITT by 12.6% during the 4th quarter. Allianz Asset Management GmbH now owns 52,083 shares of the conglomerate’s stock worth $6,215,000 after buying an additional 5,847 shares during the period. KBC Group NV acquired a new position in ITT during the 4th quarter worth approximately $175,000. Finally, First Trust Advisors LP boosted its holdings in ITT by 13.9% in the fourth quarter. First Trust Advisors LP now owns 411,752 shares of the conglomerate’s stock worth $49,130,000 after acquiring an additional 50,280 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, July 18th. TD Cowen upped their price objective on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, KeyCorp lifted their price objective on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT has an average rating of “Buy” and a consensus price target of $151.00.

ITT Stock Performance

NYSE ITT opened at $149.53 on Tuesday. The company has a fifty day moving average price of $137.16 and a 200-day moving average price of $133.68. The firm has a market cap of $12.31 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.89 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. ITT Inc. has a 1 year low of $91.94 and a 1 year high of $152.21.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. During the same period in the prior year, the firm posted $1.33 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.319 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.85%. ITT’s dividend payout ratio (DPR) is currently 24.90%.

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.