Zurich Insurance Group Ltd FI Takes $1.39 Million Position in ITT Inc. (NYSE:ITT)

Zurich Insurance Group Ltd FI bought a new stake in shares of ITT Inc. (NYSE:ITT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,200 shares of the conglomerate’s stock, valued at approximately $1,388,000.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC increased its holdings in shares of ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 205 shares in the last quarter. AdvisorNet Financial Inc grew its stake in ITT by 101.0% in the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after acquiring an additional 204 shares during the period. Tradewinds Capital Management LLC acquired a new stake in ITT in the 1st quarter valued at $68,000. YHB Investment Advisors Inc. acquired a new stake in ITT in the 1st quarter valued at $76,000. Finally, Bfsg LLC acquired a new stake in ITT in the 4th quarter valued at $73,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup lifted 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. Stifel Nicolaus lifted their price target on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. TD Cowen lifted 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. KeyCorp lifted their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, UBS Group lifted their target price on shares of ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $144.88.

ITT Trading Down 0.6 %

Shares of ITT stock traded down $0.91 on Tuesday, hitting $139.94. 127,555 shares of the stock traded hands, compared to its average volume of 383,327. The firm’s 50-day moving average price is $132.31 and its two-hundred day moving average price is $129.41. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. The stock has a market capitalization of $11.52 billion, a PE ratio of 27.87, a PEG ratio of 1.82 and a beta of 1.42. ITT Inc. has a twelve month low of $91.94 and a twelve month high of $144.03.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, analysts anticipate that ITT Inc. will post 5.85 EPS for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.319 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. ITT’s dividend payout ratio (DPR) is presently 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.