International Assets Investment Management LLC Invests $157,000 in ITT Inc. (NYSE:ITT)

International Assets Investment Management LLC bought a new stake in ITT Inc. (NYSE:ITT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,313 shares of the conglomerate’s stock, valued at approximately $157,000.

Other institutional investors have also added to or reduced their stakes in the company. Bowen Hanes & Co. Inc. acquired a new position in shares of ITT during the 3rd quarter worth about $26,087,000. Invesco Ltd. increased its position in ITT by 46.6% during the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock worth $60,130,000 after buying an additional 195,111 shares during the last quarter. FMR LLC raised its stake in ITT by 1.9% in the third quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock valued at $742,319,000 after buying an additional 144,394 shares during the period. Scopus Asset Management L.P. lifted its position in shares of ITT by 127.3% in the third quarter. Scopus Asset Management L.P. now owns 196,391 shares of the conglomerate’s stock valued at $19,229,000 after buying an additional 110,000 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of ITT during the 3rd quarter worth approximately $7,359,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Price Performance

Shares of NYSE ITT opened at $131.20 on Monday. The stock has a market capitalization of $10.79 billion, a PE ratio of 26.45, a P/E/G ratio of 1.80 and a beta of 1.43. ITT Inc. has a fifty-two week low of $75.82 and a fifty-two week high of $138.29. The business has a fifty day moving average price of $128.97 and a two-hundred day moving average price of $117.76.

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

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.319 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 0.97%. ITT’s dividend payout ratio is presently 25.81%.

Wall Street Analyst Weigh In

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

ITT 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.