ITT Inc. (NYSE:ITT) Shares Bought by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV raised its stake in ITT Inc. (NYSE:ITT) by 71.4% in the second quarter, HoldingsChannel.com reports. The fund owned 348 shares of the conglomerate’s stock after purchasing an additional 145 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in ITT were worth $45,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in ITT in the fourth quarter valued at $102,709,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in ITT by 73.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock valued at $92,751,000 after purchasing an additional 288,671 shares during the last quarter. BNP Paribas Asset Management Holding S.A. increased its stake in ITT by 139.7% in the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 393,168 shares of the conglomerate’s stock valued at $46,912,000 after purchasing an additional 229,109 shares during the last quarter. Westfield Capital Management Co. LP grew its position in ITT by 12.5% during the first quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after acquiring an additional 80,652 shares during the period. Finally, Cookson Peirce & Co. Inc. purchased a new stake in ITT during the fourth quarter valued at about $9,111,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ITT shares. KeyCorp boosted their price target on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. UBS Group boosted their price target on ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus boosted their price target on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, TD Cowen upped their target price on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT has an average rating of “Buy” and an average target price of $151.00.

ITT Price Performance

Shares of NYSE ITT opened at $129.07 on Wednesday. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $149.65. The business has a 50-day moving average of $131.96 and a 200-day moving average of $130.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.08. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.81 and a beta of 1.41.

ITT (NYSE:ITT) last issued its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.03. The company had revenue of $905.90 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $1.33 earnings per share. On average, equities analysts anticipate that ITT Inc. will post 5.83 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, September 3rd. ITT’s dividend payout ratio is currently 25.10%.

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.