Cookson Peirce & Co. Inc. Takes $9.11 Million Position in ITT Inc. (NYSE:ITT)

Cookson Peirce & Co. Inc. bought a new stake in ITT Inc. (NYSE:ITT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 76,360 shares of the conglomerate’s stock, valued at approximately $9,111,000. Cookson Peirce & Co. Inc. owned 0.09% of ITT at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Natixis Advisors L.P. grew its holdings in ITT by 28.7% during the third quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate’s stock worth $7,286,000 after acquiring an additional 16,614 shares during the period. Assenagon Asset Management S.A. grew its holdings in ITT by 198.0% in the third quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate’s stock valued at $6,302,000 after purchasing an additional 42,767 shares during the last quarter. Raymond James & Associates grew its holdings in ITT by 17.0% in 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. Massachusetts Financial Services Co. MA grew its holdings in ITT by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock valued at $169,581,000 after purchasing an additional 5,495 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in ITT by 46.6% in the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock valued at $60,130,000 after purchasing an additional 195,111 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ITT shares. Citigroup increased their target price on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. StockNews.com downgraded ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. KeyCorp lifted 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. Stifel Nicolaus lifted their target price on ITT from $122.00 to $131.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, DA Davidson lifted their target price on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $132.86.

ITT Stock Performance

Shares of ITT traded down $0.22 during trading hours on Tuesday, hitting $127.60. 267,331 shares of the company were exchanged, compared to its average volume of 354,263. The company has a market cap of $10.50 billion, a PE ratio of 25.78, a PEG ratio of 1.76 and a beta of 1.43. The firm’s 50 day moving average is $128.11 and its 200-day moving average is $115.87. ITT Inc. has a 52 week low of $75.82 and a 52 week high of $138.29.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $829.10 million during the quarter, compared to analysts’ expectations of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 EPS. As a group, equities analysts forecast that ITT Inc. will post 5.79 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.00%. This is a positive change from ITT’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, March 7th. ITT’s dividend payout ratio (DPR) is presently 25.81%.

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.