Cwm LLC Raises Stock Holdings in ITT Inc. (NYSE:ITT)

Cwm LLC raised its stake in ITT Inc. (NYSE:ITT) by 191.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,879 shares of the conglomerate’s stock after acquiring an additional 2,548 shares during the period. Cwm LLC’s holdings in ITT were worth $580,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fulton Bank N.A. grew its stake in shares of ITT by 25.0% in the third quarter. Fulton Bank N.A. now owns 3,242 shares of the conglomerate’s stock worth $485,000 after acquiring an additional 648 shares during the last quarter. Everpar Advisors LLC bought a new position in shares of ITT during the third quarter valued at $207,000. GAMMA Investing LLC lifted its holdings in shares of ITT by 48.7% during the third quarter. GAMMA Investing LLC now owns 1,303 shares of the conglomerate’s stock valued at $195,000 after purchasing an additional 427 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 103 shares in the last quarter. Finally, Unique Wealth LLC bought a new position in shares of ITT during the third quarter valued at $225,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITT. KeyCorp upped their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus upped their price target on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday. Finally, TD Cowen increased their target price on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $155.25.

ITT Stock Performance

NYSE ITT opened at $149.28 on Friday. The stock has a market capitalization of $12.29 billion, a PE ratio of 29.27, a P/E/G ratio of 2.01 and a beta of 1.40. The business has a 50 day simple moving average of $141.09 and a two-hundred day simple moving average of $135.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $153.99.

ITT (NYSE:ITT) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, research analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is 24.90%.

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.