2,672 Shares in ITT Inc. (NYSE:ITT) Acquired by Simplicity Solutions LLC

Simplicity Solutions LLC bought a new position in shares of ITT Inc. (NYSE:ITT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,672 shares of the conglomerate’s stock, valued at approximately $319,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in ITT by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,763,977 shares of the conglomerate’s stock worth $507,298,000 after purchasing an additional 20,326 shares during the period. FMR LLC boosted its stake in ITT by 1.9% in the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock worth $742,319,000 after purchasing an additional 144,394 shares during the period. BlackRock Inc. boosted its stake in ITT by 1.0% in the 1st quarter. BlackRock Inc. now owns 7,156,066 shares of the conglomerate’s stock worth $617,569,000 after purchasing an additional 68,487 shares during the period. State Street Corp boosted its stake in ITT by 1.3% in the 1st quarter. State Street Corp now owns 2,291,488 shares of the conglomerate’s stock worth $198,426,000 after purchasing an additional 29,808 shares during the period. Finally, Select Equity Group L.P. boosted its stake in ITT by 56.6% in the 1st quarter. Select Equity Group L.P. now owns 2,053,675 shares of the conglomerate’s stock worth $177,232,000 after purchasing an additional 742,608 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

ITT Trading Down 0.1 %

ITT stock opened at $124.99 on Friday. The company has a market capitalization of $10.28 billion, a P/E ratio of 25.20, a P/E/G ratio of 1.71 and a beta of 1.43. The firm’s fifty day simple moving average is $128.31 and its 200-day simple moving average is $116.40. ITT Inc. has a 1-year low of $75.82 and a 1-year high of $138.29.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $829.10 million for the quarter, compared to the consensus estimate of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. ITT’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. On average, equities research analysts predict that ITT Inc. will post 5.79 earnings per share for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio (DPR) is 25.81%.

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.