Southeast Asset Advisors Inc. Buys 7,999 Shares of ITT Inc. (NYSE:ITT)

Southeast Asset Advisors Inc. raised its stake in shares of ITT Inc. (NYSE:ITTFree Report) by 63.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,532 shares of the conglomerate’s stock after purchasing an additional 7,999 shares during the period. Southeast Asset Advisors Inc.’s holdings in ITT were worth $2,450,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ITT. Ontario Teachers Pension Plan Board purchased a new position in shares of ITT in the fourth quarter valued at about $992,000. Norges Bank purchased a new position in shares of ITT in the fourth quarter valued at about $102,709,000. Natixis Advisors L.P. lifted its position in shares of ITT by 28.7% in the third quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate’s stock valued at $7,286,000 after acquiring an additional 16,614 shares in the last quarter. Quest Partners LLC purchased a new position in shares of ITT in the fourth quarter valued at about $951,000. Finally, Coldstream Capital Management Inc. lifted its position in shares of ITT by 11.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,013 shares of the conglomerate’s stock valued at $717,000 after acquiring an additional 611 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.1 %

NYSE:ITT traded up $0.17 during midday trading on Wednesday, hitting $127.67. The stock had a trading volume of 39,434 shares, compared to its average volume of 387,389. ITT Inc. has a one year low of $80.91 and a one year high of $140.20. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.68 and a beta of 1.44. The stock has a 50-day moving average of $132.57 and a 200 day moving average of $124.51. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

ITT (NYSE:ITTGet Free Report) last posted its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. ITT’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. As a group, sell-side analysts forecast that ITT Inc. will post 5.85 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.319 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.00%. ITT’s dividend payout ratio is presently 25.10%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ITT. KeyCorp boosted 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. UBS Group boosted their price objective on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. StockNews.com cut ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Stifel Nicolaus upped their target price on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, DA Davidson upped their target price on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $138.38.

Get Our Latest Research Report on ITT

ITT Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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