ITT Inc. (NYSE:ITT) Sees Large Drop in Short Interest

ITT Inc. (NYSE:ITT) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 1,337,344 shares, a drop of 37.6% from the December 31st total of 2,143,781 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily volume of 831,993 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily volume of 831,993 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ITT shares. Citigroup increased their price target on ITT from $207.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Stifel Nicolaus lowered their target price on shares of ITT from $225.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. KeyCorp raised their target price on ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. DA Davidson reaffirmed a “buy” rating and set a $215.00 target price on shares of ITT in a report on Monday, December 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ITT in a research report on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, ITT presently has a consensus rating of “Buy” and an average price target of $206.25.

Insider Buying and Selling

In other news, CAO Mesa Graziano Cheryl De sold 238 shares of ITT stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $183.08, for a total value of $43,573.04. Following the sale, the chief accounting officer directly owned 5,062 shares in the company, valued at approximately $926,750.96. This trade represents a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ITT

A number of institutional investors have recently added to or reduced their stakes in ITT. Amundi grew its position in ITT by 22,565.6% in the 1st quarter. Amundi now owns 7,253 shares of the conglomerate’s stock worth $867,000 after purchasing an additional 7,221 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ITT by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate’s stock worth $54,020,000 after buying an additional 28,937 shares during the period. Empowered Funds LLC purchased a new position in ITT during the 1st quarter valued at about $360,000. Focus Partners Wealth increased its stake in shares of ITT by 80.7% in the first quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate’s stock worth $1,017,000 after acquiring an additional 3,515 shares during the last quarter. Finally, Signaturefd LLC raised its position in ITT by 33.7% during the second quarter. Signaturefd LLC now owns 1,992 shares of the conglomerate’s stock valued at $312,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Down 1.4%

Shares of NYSE:ITT traded down $2.63 on Friday, hitting $182.10. 810,652 shares of the company’s stock were exchanged, compared to its average volume of 728,890. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.52. The firm’s 50-day moving average is $179.21 and its 200 day moving average is $175.69. The company has a market capitalization of $15.67 billion, a PE ratio of 30.25, a P/E/G ratio of 1.66 and a beta of 1.37. ITT has a 1-year low of $105.64 and a 1-year high of $197.07.

ITT (NYSE:ITT) last issued its quarterly earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.11. The firm had revenue of $999.10 million during the quarter, compared to analysts’ expectations of $973.69 million. ITT had a net margin of 12.67% and a return on equity of 18.96%. ITT’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. Sell-side analysts predict that ITT will post 6.51 EPS for the current year.

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.