OMERS ADMINISTRATION Corp Purchases New Holdings in ITT Inc. (NYSE:ITT)

OMERS ADMINISTRATION Corp purchased a new stake in shares of ITT Inc. (NYSE:ITT) in the fourth quarter, Holdings Channel reports. The firm purchased 4,800 shares of the conglomerate’s stock, valued at approximately $686,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its position in shares of ITT by 0.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock valued at $1,641,000 after purchasing an additional 81 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in ITT by 10.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock worth $183,000 after buying an additional 116 shares in the last quarter. Tectonic Advisors LLC grew its position in ITT by 4.2% during the fourth quarter. Tectonic Advisors LLC now owns 3,048 shares of the conglomerate’s stock worth $435,000 after buying an additional 123 shares in the last quarter. CIBC Asset Management Inc grew its position in ITT by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,534 shares of the conglomerate’s stock worth $362,000 after buying an additional 125 shares in the last quarter. Finally, Quarry LP grew its position in ITT by 101.6% during the fourth quarter. Quarry LP now owns 248 shares of the conglomerate’s stock worth $35,000 after buying an additional 125 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Up 1.9%

Shares of ITT stock opened at $152.99 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $133.49 and a two-hundred day moving average price of $142.69. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $161.13. The firm has a market cap of $12.04 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.01. ITT had a return on equity of 18.03% and a net margin of 14.27%. The firm had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, June 2nd. ITT’s dividend payout ratio (DPR) is presently 22.26%.

Analysts Set New Price Targets

Several research firms recently commented on ITT. KeyCorp boosted their target price on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. UBS Group boosted their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup reduced their target price on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus boosted their target price on ITT from $161.00 to $171.00 and gave the stock a “buy” rating in a research report on Friday. Finally, StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.29.

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.