Freestone Grove Partners LP purchased a new stake in shares of ITT Inc. (NYSE:ITT – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 76,153 shares of the conglomerate’s stock, valued at approximately $15,060,000. Freestone Grove Partners LP owned 0.09% of ITT at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in ITT during the second quarter worth $28,000. Elyxium Wealth LLC acquired a new stake in ITT in the fourth quarter valued at $29,000. Bayban purchased a new position in shares of ITT in the fourth quarter valued at $31,000. Trust Co. of Vermont acquired a new position in shares of ITT during the 2nd quarter worth $33,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of ITT by 62.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock worth $34,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.
ITT Trading Down 1.2%
Shares of ITT stock opened at $207.90 on Friday. ITT Inc. has a fifty-two week low of $166.96 and a fifty-two week high of $230.32. The business’s fifty day moving average is $200.06 and its two-hundred day moving average is $199.68. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. The firm has a market cap of $18.59 billion, a PE ratio of 40.77, a P/E/G ratio of 1.72 and a beta of 1.27.
ITT Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Tuesday, September 8th will be issued a $0.386 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.54 annualized dividend and a yield of 0.7%. ITT’s dividend payout ratio (DPR) is presently 30.20%.
Insiders Place Their Bets
In other ITT news, CAO Mesa Graziano Cheryl De sold 700 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $214.54, for a total transaction of $150,178.00. Following the completion of the sale, the chief accounting officer directly owned 7,159 shares in the company, valued at $1,535,891.86. The trade was a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
ITT has been the subject of a number of research reports. Wolfe Research upgraded shares of ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 target price for the company in a research report on Thursday, July 9th. Wall Street Zen lowered ITT from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Stifel Nicolaus increased their target price on ITT from $246.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 20th. Robert W. Baird set a $246.00 price target on ITT in a report on Thursday, May 7th. Finally, Barclays increased their price objective on ITT from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and an average target price of $241.08.
Get Our Latest Analysis on ITT
ITT Profile
ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.
The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.
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