Fosun International Ltd bought a new stake in ITT Inc. (NYSE:ITT – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 7,448 shares of the conglomerate’s stock, valued at approximately $1,473,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Andina Capital Management LLC increased its position in shares of ITT by 1.6% in the 4th quarter. Andina Capital Management LLC now owns 3,166 shares of the conglomerate’s stock valued at $549,000 after purchasing an additional 49 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of ITT by 2.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 1,942 shares of the conglomerate’s stock worth $370,000 after purchasing an additional 52 shares during the last quarter. Whittier Trust Co. lifted its position in shares of ITT by 5.1% during the 1st quarter. Whittier Trust Co. now owns 1,064 shares of the conglomerate’s stock worth $207,000 after purchasing an additional 52 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of ITT by 2.2% during the fourth quarter. Toronto Dominion Bank now owns 2,481 shares of the conglomerate’s stock worth $430,000 after purchasing an additional 53 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in ITT by 3.8% in the fourth quarter. Stephens Inc. AR now owns 1,654 shares of the conglomerate’s stock valued at $287,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.
ITT Stock Down 0.1%
ITT stock opened at $202.80 on Monday. ITT Inc. has a fifty-two week low of $166.96 and a fifty-two week high of $230.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.26. The company has a market capitalization of $18.13 billion, a P/E ratio of 39.76, a PEG ratio of 1.66 and a beta of 1.27. The stock has a 50-day simple moving average of $200.18 and a 200-day simple moving average of $199.70.
ITT Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.386 per share. The ex-dividend date is Tuesday, September 8th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is 30.20%.
Analyst Ratings Changes
ITT has been the subject of a number of recent analyst reports. Wolfe Research raised ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 price target for the company in a report on Thursday, July 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $273.00 price objective on shares of ITT in a report on Friday, August 7th. DA Davidson raised their target price on ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings cut ITT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, KeyCorp increased their price target on shares of ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and an average target price of $241.08.
Insider Activity
In other news, CAO Mesa Graziano Cheryl De sold 700 shares of ITT stock in a transaction on Friday, August 7th. The shares were sold at an average price of $214.54, for a total value of $150,178.00. Following the transaction, the chief accounting officer directly owned 7,159 shares of the company’s stock, valued at $1,535,891.86. The trade was a 8.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.88% of the company’s stock.
About ITT
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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