Russell Investments Group Ltd. boosted its position in shares of ITT Inc. (NYSE:ITT – Free Report) by 19.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,785 shares of the conglomerate’s stock after purchasing an additional 8,956 shares during the period. Russell Investments Group Ltd. owned about 0.07% of ITT worth $7,452,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its holdings in shares of ITT by 788.5% in the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 205 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of ITT by 101.0% in the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after acquiring an additional 204 shares in the last quarter. Tradewinds Capital Management LLC bought a new position in shares of ITT in the 1st quarter valued at about $68,000. Bfsg LLC bought a new position in shares of ITT in the 4th quarter valued at about $73,000. Finally, YHB Investment Advisors Inc. bought a new position in ITT during the first quarter worth about $76,000. Institutional investors own 91.59% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on ITT. Stifel Nicolaus lifted their price target on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen lifted their price target on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Citigroup lifted their price target on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. KeyCorp lifted their price target on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, UBS Group lifted their price target on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $144.88.
View Our Latest Research Report on ITT
ITT Stock Down 0.8 %
NYSE ITT opened at $137.20 on Friday. 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 1-year low of $91.94 and a 1-year high of $144.03. The company has a 50 day moving average of $132.14 and a 200-day moving average of $128.30. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.78 and a beta of 1.41.
ITT (NYSE:ITT – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities research analysts expect that ITT Inc. will post 5.85 earnings per share for the current fiscal year.
ITT Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.319 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.93%. ITT’s payout ratio is 25.10%.
About ITT
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.
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