Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,229 Shares of ITT Inc. (NYSE:ITT)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ITT Inc. (NYSE:ITT) by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,502 shares of the conglomerate’s stock after acquiring an additional 2,229 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ITT were worth $2,519,000 as of its most recent SEC filing.

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

ITT Price Performance

NYSE:ITT opened at $139.22 on Friday. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.08. The business has a 50 day simple moving average of $134.00 and a 200-day simple moving average of $131.64. ITT Inc. has a 1 year low of $91.94 and a 1 year high of $149.65.

ITT (NYSE:ITT) last issued its quarterly earnings results 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. The company had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. ITT’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. Equities analysts forecast that ITT Inc. will post 5.83 EPS for the current year.

ITT Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on ITT. KeyCorp increased 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 raised their price target on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Stifel Nicolaus lifted their price objective on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, UBS Group increased their target price on ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average 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.