Vest Financial LLC Buys 2,055 Shares of ITT Inc. (NYSE:ITT)

Vest Financial LLC grew its stake in ITT Inc. (NYSE:ITT) by 31.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,533 shares of the conglomerate’s stock after buying an additional 2,055 shares during the quarter. Vest Financial LLC’s holdings in ITT were worth $1,102,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Eagle Bluffs Wealth Management LLC increased its holdings in ITT by 0.4% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock worth $2,457,000 after buying an additional 82 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in shares of ITT by 4.7% during the 1st quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock worth $314,000 after purchasing an additional 104 shares during the last quarter. Blue Trust Inc. increased its stake in shares of ITT by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock worth $58,000 after purchasing an additional 118 shares during the last quarter. Private Advisor Group LLC lifted its stake in ITT by 2.7% in the 2nd quarter. Private Advisor Group LLC now owns 4,608 shares of the conglomerate’s stock valued at $595,000 after purchasing an additional 122 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in ITT by 5.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,479 shares of the conglomerate’s stock valued at $296,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Trading Up 1.3 %

Shares of ITT stock opened at $133.45 on Friday. ITT Inc. has a 52-week low of $91.94 and a 52-week high of $149.65. The stock has a market cap of $10.90 billion, a PE ratio of 26.17, a PEG ratio of 1.71 and a beta of 1.40. The firm has a 50-day moving average of $134.79 and a 200-day moving average of $132.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55.

ITT (NYSE:ITT) last announced its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm had revenue of $905.90 million for the quarter, compared to analyst estimates of $916.38 million. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.319 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. ITT’s payout ratio is 25.10%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ITT shares. KeyCorp upped their price objective on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their price target on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, TD Cowen lifted their price objective on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $151.00.

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.