Fulton Bank N.A. Acquires 648 Shares of ITT Inc. (NYSE:ITT)

Fulton Bank N.A. boosted its holdings in shares of ITT Inc. (NYSE:ITT) by 25.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,242 shares of the conglomerate’s stock after buying an additional 648 shares during the quarter. Fulton Bank N.A.’s holdings in ITT were worth $485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Everpar Advisors LLC purchased a new position in shares of ITT during the 3rd quarter worth $207,000. GAMMA Investing LLC raised its holdings in ITT by 48.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,303 shares of the conglomerate’s stock worth $195,000 after purchasing an additional 427 shares during the period. Quent Capital LLC lifted its position in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 103 shares in the last quarter. Unique Wealth LLC bought a new stake in ITT during the third quarter valued at about $225,000. Finally, Sanctuary Advisors LLC purchased a new stake in ITT in the second quarter worth about $489,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Down 0.5 %

ITT stock opened at $148.21 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The firm’s 50 day moving average price is $138.12 and its 200-day moving average price is $134.43. ITT Inc. has a 1 year low of $91.94 and a 1 year high of $152.21. The stock has a market cap of $12.20 billion, a P/E ratio of 29.06, a PEG ratio of 1.89 and a beta of 1.40.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $1.33 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.319 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. ITT’s dividend payout ratio (DPR) is 24.90%.

Wall Street Analyst Weigh In

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

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.