ITT Inc. (NYSE:ITT) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lifted its holdings in ITT Inc. (NYSE:ITT) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,635 shares of the conglomerate’s stock after purchasing an additional 3,095 shares during the period. State Board of Administration of Florida Retirement System owned about 0.12% of ITT worth $13,417,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC grew its stake in shares of ITT by 788.5% in the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 205 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after buying an additional 204 shares during the period. Tradewinds Capital Management LLC purchased a new position in shares of ITT in the first quarter worth approximately $68,000. YHB Investment Advisors Inc. purchased a new position in shares of ITT in the first quarter worth approximately $76,000. Finally, Bfsg LLC purchased a new position in shares of ITT in the fourth quarter worth approximately $73,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Down 1.1 %

ITT traded down $1.53 on Friday, reaching $136.82. 58,568 shares of the company traded hands, compared to its average volume of 383,782. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.83 and a beta of 1.41. ITT Inc. has a 52-week low of $91.94 and a 52-week high of $144.03. The stock’s 50 day moving average price is $132.15 and its 200-day moving average price is $128.10.

ITT (NYSE:ITT) last posted its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, sell-side analysts expect that ITT Inc. will post 5.86 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.93%. The ex-dividend date was Monday, June 3rd. ITT’s dividend payout ratio is 25.10%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITT. Stifel Nicolaus lifted their target price on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp lifted their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. TD Cowen lifted their target price on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday. DA Davidson lifted their target price on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Finally, UBS Group boosted their price objective on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $144.88.

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.