Courier Capital LLC Takes $228,000 Position in ITT Inc. (NYSE:ITT)

Courier Capital LLC bought a new stake in shares of ITT Inc. (NYSE:ITT) in the 4th quarter, Holdings Channel reports. The firm bought 1,908 shares of the conglomerate’s stock, valued at approximately $228,000.

Several other large investors have also recently made changes to their positions in the business. Sendero Wealth Management LLC lifted its holdings in shares of ITT by 10.7% during the fourth quarter. Sendero Wealth Management LLC now owns 3,871 shares of the conglomerate’s stock valued at $462,000 after purchasing an additional 375 shares during the last quarter. Simon Quick Advisors LLC purchased a new position in shares of ITT during the fourth quarter valued at approximately $212,000. Pacer Advisors Inc. lifted its holdings in shares of ITT by 53.3% during the fourth quarter. Pacer Advisors Inc. now owns 18,945 shares of the conglomerate’s stock valued at $2,261,000 after purchasing an additional 6,587 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of ITT by 17.0% during the fourth quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate’s stock valued at $8,903,000 after purchasing an additional 10,853 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its holdings in shares of ITT by 34.0% during the fourth quarter. Everhart Financial Group Inc. now owns 5,618 shares of the conglomerate’s stock valued at $670,000 after purchasing an additional 1,427 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on shares of ITT from $122.00 to $131.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. DA Davidson boosted their price objective on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup boosted their target price on shares of ITT from $122.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $124.57.

ITT Price Performance

Shares of ITT stock opened at $136.85 on Thursday. ITT Inc. has a 1 year low of $75.82 and a 1 year high of $138.29. The firm has a fifty day moving average price of $125.45 and a 200-day moving average price of $112.68. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The firm had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts expect that ITT Inc. will post 5.76 EPS for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be issued a $0.319 dividend. The ex-dividend date is Thursday, March 7th. This represents a $1.28 annualized dividend and a yield of 0.93%. This is an increase from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio is currently 25.81%.

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.