Headlands Technologies LLC Invests $32,000 in ITT Inc. (NYSE:ITT)

Headlands Technologies LLC purchased a new position in shares of ITT Inc. (NYSE:ITT) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 250 shares of the conglomerate’s stock, valued at approximately $32,000.

Several other hedge funds have also made changes to their positions in the business. Mawer Investment Management Ltd. acquired a new stake in shares of ITT during the second quarter worth about $49,043,000. LGT Group Foundation acquired a new stake in shares of ITT during the second quarter worth about $5,419,000. Texas Permanent School Fund Corp raised its holdings in ITT by 1.7% in the second quarter. Texas Permanent School Fund Corp now owns 73,108 shares of the conglomerate’s stock valued at $9,444,000 after acquiring an additional 1,255 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in ITT in the second quarter valued at approximately $128,000. Finally, Quest Partners LLC raised its holdings in ITT by 197.3% in the second quarter. Quest Partners LLC now owns 17,220 shares of the conglomerate’s stock valued at $2,224,000 after acquiring an additional 11,428 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $139.18 on Wednesday. The firm has a market capitalization of $11.45 billion, a P/E ratio of 27.29, a P/E/G ratio of 1.71 and a beta of 1.40. ITT Inc. has a 52 week low of $91.94 and a 52 week high of $149.65. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $135.14 and its two-hundred day moving average is $132.35.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $1.33 earnings per share. Research analysts forecast that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The firm 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 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 (DPR) is presently 24.90%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ITT. Stifel Nicolaus raised their target price on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a report on Thursday, July 18th. TD Cowen raised their target price on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, KeyCorp raised their target price on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT currently has a consensus rating of “Buy” and a consensus price target of $151.00.

About ITT

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.