BNP Paribas Financial Markets Raises Position in ITT Inc. (NYSE:ITT)

BNP Paribas Financial Markets lifted its stake in ITT Inc. (NYSE:ITT) by 255.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 95,972 shares of the conglomerate’s stock after buying an additional 68,989 shares during the period. BNP Paribas Financial Markets’ holdings in ITT were worth $13,712,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ITT. Rialto Wealth Management LLC purchased a new position in ITT during the fourth quarter worth $26,000. ORG Wealth Partners LLC bought a new stake in shares of ITT in the 4th quarter worth about $30,000. Whipplewood Advisors LLC purchased a new position in shares of ITT during the 4th quarter worth about $34,000. Quarry LP grew its holdings in ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ITT. UBS Group boosted their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price objective on ITT from $148.00 to $161.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Citigroup reduced their target price on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, KeyCorp raised their price target on shares of ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.86.

ITT Stock Down 0.2 %

Shares of ITT stock opened at $143.18 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.89 and a beta of 1.36. The firm’s 50-day moving average is $132.10 and its two-hundred day moving average is $142.47. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. The firm had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $1.42 earnings per share. As a group, research analysts expect that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, June 2nd. ITT’s dividend payout ratio is currently 22.26%.

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.