Texas Permanent School Fund Corp Has $9.77 Million Stake in ITT Inc. (NYSE:ITT)

Texas Permanent School Fund Corp increased its stake in shares of ITT Inc. (NYSE:ITT) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,853 shares of the conglomerate’s stock after buying an additional 931 shares during the quarter. Texas Permanent School Fund Corp’s holdings in ITT were worth $9,774,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ITT. Ontario Teachers Pension Plan Board acquired a new stake in shares of ITT during the 4th quarter worth $992,000. Vanguard Group Inc. lifted its holdings in shares of ITT by 0.8% during the 4th 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 during the period. Norges Bank acquired a new stake in shares of ITT in the 4th quarter valued at $102,709,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in ITT by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock valued at $14,706,000 after buying an additional 6,143 shares in the last quarter. Finally, Quest Partners LLC bought a new position in ITT in the fourth quarter valued at about $951,000. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. KeyCorp increased their price objective 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. UBS Group raised 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. Citigroup boosted their price target 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. DA Davidson raised their target price on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus upped their price target on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $138.38.

ITT Stock Performance

ITT stock traded up $0.79 during mid-day trading on Friday, reaching $133.04. 3,015 shares of the company’s stock were exchanged, compared to its average volume of 380,014. The business’s fifty day simple moving average is $131.64 and its 200 day simple moving average is $127.44. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. ITT Inc. has a one year low of $91.94 and a one year high of $140.20. The firm has a market capitalization of $10.95 billion, a PE ratio of 25.92, a P/E/G ratio of 1.67 and a beta of 1.41.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. ITT’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. On average, sell-side analysts expect that ITT Inc. will post 5.85 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.319 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. ITT’s payout ratio is 25.10%.

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.