ITT Inc. (NYSE:ITT) Stake Lifted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in shares of ITT Inc. (NYSE:ITT) by 14.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,562 shares of the conglomerate’s stock after purchasing an additional 1,468 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ITT were worth $1,494,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ITT during the 4th quarter valued at $102,709,000. Mawer Investment Management Ltd. acquired a new position in ITT during the second quarter worth about $49,043,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in ITT by 73.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after acquiring an additional 288,671 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in ITT by 12.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after acquiring an additional 80,652 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of ITT by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after purchasing an additional 65,173 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Stock Performance

Shares of ITT stock opened at $138.67 on Thursday. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.71 and a beta of 1.40. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $149.65. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $135.40 and its 200-day simple moving average is $132.43.

ITT (NYSE:ITT) last released its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. The company had revenue of $905.90 million for the quarter, compared to analysts’ expectations of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 EPS. On average, sell-side analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $0.319 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. ITT’s payout ratio is 24.90%.

Analyst Upgrades and Downgrades

ITT has been the subject of several recent research reports. KeyCorp increased their target price on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their target price on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, TD Cowen lifted their price target on 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, the company has a consensus rating of “Buy” and an average price target of $151.00.

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.