Private Advisor Group LLC Buys 122 Shares of ITT Inc. (NYSE:ITT)

Private Advisor Group LLC increased its stake in shares of ITT Inc. (NYSE:ITT) by 2.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,608 shares of the conglomerate’s stock after acquiring an additional 122 shares during the period. Private Advisor Group LLC’s holdings in ITT were worth $595,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board acquired a new position in shares of ITT during the 4th quarter worth about $992,000. Vanguard Group Inc. increased its position in ITT by 0.8% during 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 shares of ITT by 383.3% in the first quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock valued at $1,315,000 after buying an additional 7,666 shares during the last quarter. Norges Bank bought a new position in shares of ITT during the 4th quarter worth approximately $102,709,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ITT by 6.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock worth $14,706,000 after acquiring an additional 6,143 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

NYSE ITT opened at $138.67 on Thursday. The firm has a 50-day moving average price of $135.40 and a two-hundred day moving average price of $132.43. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $149.65. The company has a market capitalization of $11.41 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.71 and a beta of 1.40. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07.

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 business had revenue of $905.90 million for 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 firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 earnings per share. Analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. KeyCorp lifted their price objective on shares of ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. TD Cowen upped their price target on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Stifel Nicolaus raised their price objective on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $151.00.

ITT 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.