JB Capital LLC Boosts Stake in ITT Inc. (NYSE:ITT)

JB Capital LLC lifted its position in ITT Inc. (NYSE:ITT) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,628 shares of the conglomerate’s stock after buying an additional 354 shares during the quarter. JB Capital LLC’s holdings in ITT were worth $1,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of ITT in the fourth quarter worth $102,709,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in ITT by 73.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after purchasing an additional 288,671 shares in the last quarter. BNP Paribas Asset Management Holding S.A. increased its holdings in ITT by 139.7% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 393,168 shares of the conglomerate’s stock worth $46,912,000 after purchasing an additional 229,109 shares during the period. Westfield Capital Management Co. LP raised its position in ITT by 12.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after purchasing an additional 80,652 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of ITT by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after buying an additional 65,173 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ITT Stock Performance

Shares of ITT traded up $3.47 during mid-day trading on Friday, hitting $138.39. 217,385 shares of the company’s stock were exchanged, compared to its average volume of 391,110. The firm has a market capitalization of $11.39 billion, a P/E ratio of 26.90, a P/E/G ratio of 1.81 and a beta of 1.41. ITT Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $149.65. The business’s 50 day moving average is $133.01 and its two-hundred day moving average is $130.96. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07.

ITT (NYSE:ITT) last announced its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. The company had revenue of $905.90 million for 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% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS. On average, equities analysts expect that ITT Inc. will post 5.83 earnings per share for the current year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Tuesday, September 3rd. ITT’s payout ratio is 24.90%.

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.