ITT Inc. (NYSE:ITT) Short Interest Down 10.5% in August

ITT Inc. (NYSE:ITT) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 572,300 shares, a decrease of 10.5% from the August 15th total of 639,700 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 366,400 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ontario Teachers Pension Plan Board bought a new stake in ITT in the fourth quarter worth $992,000. Vanguard Group Inc. lifted its position in ITT by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after buying an additional 65,173 shares during the last quarter. SageView Advisory Group LLC lifted its position in ITT by 383.3% in the first quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock worth $1,315,000 after buying an additional 7,666 shares during the last quarter. Norges Bank bought a new stake in ITT in the fourth quarter worth $102,709,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in ITT by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock worth $14,706,000 after buying an additional 6,143 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of research analyst reports. TD Cowen increased their price objective on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. 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. Finally, Stifel Nicolaus increased their price objective on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $151.00.

ITT Price Performance

Shares of NYSE ITT traded down $0.45 during midday trading on Wednesday, reaching $138.69. 324,676 shares of the stock traded hands, compared to its average volume of 379,970. 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 stock has a market capitalization of $11.41 billion, a PE ratio of 27.53, a P/E/G ratio of 1.71 and a beta of 1.40. ITT has a one year low of $91.94 and a one year high of $149.65. The company’s 50 day moving average is $135.40 and its 200 day moving average is $132.43.

ITT (NYSE:ITT) last posted its earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. The firm 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%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. On average, equities research analysts anticipate that ITT will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given 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 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.