Bfsg LLC Takes $73,000 Position in ITT Inc. (NYSE:ITT)

Bfsg LLC purchased a new stake in shares of ITT Inc. (NYSE:ITT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 610 shares of the conglomerate’s stock, valued at approximately $73,000.

A number of other institutional investors also recently bought and sold shares of ITT. Bowen Hanes & Co. Inc. bought a new position in shares of ITT in the third quarter worth about $26,087,000. Invesco Ltd. raised its stake in shares of ITT by 46.6% in the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock worth $60,130,000 after buying an additional 195,111 shares during the period. FMR LLC raised its stake in shares of ITT by 1.9% in the third quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock worth $742,319,000 after buying an additional 144,394 shares during the period. Scopus Asset Management L.P. grew its position in shares of ITT by 127.3% during the third quarter. Scopus Asset Management L.P. now owns 196,391 shares of the conglomerate’s stock worth $19,229,000 after purchasing an additional 110,000 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new stake in shares of ITT during the fourth quarter worth about $9,111,000. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $130.23 on Friday. ITT Inc. has a 52-week low of $75.82 and a 52-week high of $138.29. The firm has a market capitalization of $10.71 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.79 and a beta of 1.43. The stock has a 50 day moving average price of $128.82 and a 200 day moving average price of $117.30.

ITT (NYSE:ITT) last issued its 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 during the quarter, compared to analyst estimates of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. ITT’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. As a group, sell-side analysts forecast that ITT Inc. will post 5.8 EPS for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a dividend of $0.319 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. ITT’s payout ratio is 25.81%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ITT shares. KeyCorp increased their target price on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Citigroup lifted their target price on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. DA Davidson lifted their target price on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Stifel Nicolaus lifted their target price on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, StockNews.com cut ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $135.57.

ITT Company 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.