LGT Group Foundation Purchases Shares of 41,951 ITT Inc. (NYSE:ITT)

LGT Group Foundation acquired a new position in shares of ITT Inc. (NYSE:ITT) in the second quarter, Holdings Channel reports. The institutional investor acquired 41,951 shares of the conglomerate’s stock, valued at approximately $5,419,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lynx Investment Advisory bought a new stake in shares of ITT in the 2nd quarter valued at $27,000. Rise Advisors LLC increased its holdings in ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 205 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of ITT by 71.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 145 shares in the last quarter. Blue Trust Inc. lifted its position in shares of ITT by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock valued at $58,000 after acquiring an additional 118 shares during the period. Finally, Tradewinds Capital Management LLC bought a new position in ITT during the first quarter worth $68,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ITT. KeyCorp upped 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. TD Cowen upped 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. Finally, Stifel Nicolaus increased their price target on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ITT has a consensus rating of “Buy” and an average target price of $151.00.

ITT Trading Up 1.5 %

NYSE ITT opened at $130.95 on Tuesday. 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 firm has a market capitalization of $10.78 billion, a P/E ratio of 25.68, a PEG ratio of 1.68 and a beta of 1.40. The business has a fifty day simple moving average of $134.52 and a 200 day simple moving average of $132.07. ITT Inc. has a 12 month low of $91.94 and a 12 month high of $149.65.

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

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.319 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.97%. ITT’s dividend payout ratio (DPR) is currently 24.90%.

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.