SVB Wealth LLC Has $394,000 Holdings in ITT Inc. (NYSE:ITT)

SVB Wealth LLC raised its holdings in ITT Inc. (NYSE:ITT) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,900 shares of the conglomerate’s stock after acquiring an additional 232 shares during the period. SVB Wealth LLC’s holdings in ITT were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital International Investors increased its stake in ITT by 0.3% during the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock worth $1,123,533,000 after purchasing an additional 29,057 shares in the last quarter. Vanguard Group Inc. increased its position in shares of ITT by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after acquiring an additional 65,173 shares in the last quarter. Norges Bank acquired a new stake in shares of ITT during the fourth quarter worth $102,709,000. Fiduciary Management Inc. WI lifted its position in ITT by 3.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 742,571 shares of the conglomerate’s stock valued at $88,604,000 after acquiring an additional 27,210 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in ITT by 12.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock worth $98,434,000 after purchasing an additional 80,652 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

NYSE ITT traded up $0.58 on Tuesday, hitting $141.43. 42,602 shares of the stock were exchanged, compared to its average volume of 382,741. The company has a market capitalization of $11.64 billion, a PE ratio of 27.87, a P/E/G ratio of 1.82 and a beta of 1.42. 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 business’s fifty day moving average is $132.31 and its 200 day moving average is $129.41. ITT Inc. has a 52 week low of $91.94 and a 52 week high of $144.03.

ITT (NYSE:ITT) last issued its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. During the same period in the prior year, the firm earned $1.17 EPS. ITT’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that ITT Inc. will post 5.85 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, June 3rd. ITT’s payout ratio is presently 25.10%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup boosted their price target on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a report on Monday, April 8th. KeyCorp upped their price target on 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 price objective on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. UBS Group increased their target price on shares of ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Stifel Nicolaus lifted their price target on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, ITT currently has a consensus rating of “Buy” and a consensus target price of $144.88.

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.