Sei Investments Co. Increases Stock Holdings in ITT Inc. (NYSE:ITT)

Sei Investments Co. lifted its stake in shares of ITT Inc. (NYSE:ITT) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 81,477 shares of the conglomerate’s stock after purchasing an additional 2,191 shares during the quarter. Sei Investments Co.’s holdings in ITT were worth $10,526,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ITT. Lynx Investment Advisory acquired a new stake in shares of ITT during the second quarter valued at $27,000. Rise Advisors LLC boosted its stake 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 acquiring an additional 205 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of ITT during the second quarter valued at $32,000. Brown Brothers Harriman & Co. acquired a new stake in shares of ITT during the second quarter valued at $36,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of ITT by 71.4% during the second 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 during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Ratings Changes

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

ITT Stock Down 0.4 %

Shares of NYSE:ITT opened at $150.00 on Friday. The stock’s 50-day moving average price is $136.99 and its two-hundred day moving average price is $133.48. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $152.21. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.89 and a beta of 1.40.

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

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, September 3rd. 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.