ITT Inc. (NYSE:ITT) Short Interest Down 10.5% in August

ITT Inc. (NYSE:ITT) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 572,300 shares, a decrease of 10.5% from the August 15th total of 639,700 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 366,400 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On ITT

Several hedge funds and other institutional investors have recently modified their holdings of ITT. Eagle Bluffs Wealth Management LLC boosted its stake 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 in the last quarter. AE Wealth Management LLC increased its position in ITT by 5.9% in the second quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after purchasing an additional 100 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of ITT by 4.7% during the first quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock worth $314,000 after buying an additional 104 shares during the last quarter. Blue Trust Inc. raised its position in shares of ITT by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock valued at $58,000 after acquiring an additional 118 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in ITT by 2.7% in the second quarter. Private Advisor Group LLC now owns 4,608 shares of the conglomerate’s stock valued at $595,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Up 2.5 %

NYSE ITT traded up $3.43 during trading on Tuesday, reaching $139.18. The company’s stock had a trading volume of 482,294 shares, compared to its average volume of 380,279. The stock has a market capitalization of $11.45 billion, a PE ratio of 27.28, a PEG ratio of 1.71 and a beta of 1.40. ITT has a 1-year low of $91.94 and a 1-year high of $149.65. The business has a 50-day moving average price of $135.14 and a 200-day moving average price of $132.35. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07.

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 return on equity of 18.30% and a net margin of 12.47%. The firm had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter in the prior year, the business earned $1.33 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that ITT will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is currently 24.90%.

Analysts Set New Price Targets

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

ITT Company 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.