8,430 Shares in ITT Inc. (NYSE:ITT) Bought by CGN Advisors LLC

CGN Advisors LLC acquired a new stake in ITT Inc. (NYSE:ITT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,430 shares of the conglomerate’s stock, valued at approximately $1,204,000.

Several other hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in ITT during the 3rd quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT during the fourth quarter worth approximately $30,000. UMB Bank n.a. grew its position in ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares during the last quarter. Finally, Quent Capital LLC grew its position in ITT by 53.9% in the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

ITT has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird dropped their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com lowered ITT from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Citigroup reduced their target price on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.50.

ITT Trading Up 1.4 %

NYSE:ITT opened at $151.24 on Friday. ITT Inc. has a 52-week low of $117.25 and a 52-week high of $161.13. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $149.46 and a 200-day simple moving average of $143.21. The company has a market capitalization of $12.33 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.63 and a beta of 1.41.

ITT (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 earnings per share. On average, equities research analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, November 29th. ITT’s dividend payout ratio (DPR) is presently 21.84%.

About ITT

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.