Bfsg LLC Makes New $73,000 Investment in ITT Inc. (NYSE:ITT)

Bfsg LLC acquired a new stake in ITT Inc. (NYSE:ITT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 610 shares of the conglomerate’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of ITT in the fourth quarter valued at $94,000. Signaturefd LLC grew its stake in shares of ITT by 8.2% in the fourth quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate’s stock valued at $137,000 after buying an additional 87 shares in the last quarter. AIA Group Ltd boosted its position in ITT by 104.4% during the fourth quarter. AIA Group Ltd now owns 19,411 shares of the conglomerate’s stock worth $2,316,000 after purchasing an additional 9,914 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ITT by 3.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,772 shares of the conglomerate’s stock valued at $2,836,000 after purchasing an additional 822 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC increased its holdings in shares of ITT by 0.6% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 18,820 shares of the conglomerate’s stock valued at $2,246,000 after purchasing an additional 114 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Stifel Nicolaus upped their price objective on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Citigroup upped their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a report on Monday, April 8th. DA Davidson upped their price target on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, KeyCorp upped their price target on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT presently has an average rating of “Buy” and an average target price of $135.57.

ITT Stock Down 0.2 %

ITT opened at $130.23 on Friday. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 1.79 and a beta of 1.43. ITT Inc. has a twelve month low of $75.82 and a twelve month high of $138.29. The company has a 50-day simple moving average of $128.82 and a 200 day simple moving average of $117.30.

ITT (NYSE:ITT) last posted its earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $829.10 million during the quarter, compared to analysts’ expectations of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 earnings per share. Sell-side analysts anticipate that ITT Inc. will post 5.8 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.319 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio is 25.81%.

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.