ITT Inc. (NYSE:ITT) Shares Bought by Benson Investment Management Company Inc.

Benson Investment Management Company Inc. raised its stake in shares of ITT Inc. (NYSE:ITT) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,819 shares of the conglomerate’s stock after purchasing an additional 562 shares during the period. ITT accounts for 2.2% of Benson Investment Management Company Inc.’s portfolio, making the stock its 15th largest position. Benson Investment Management Company Inc.’s holdings in ITT were worth $5,281,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ITT. Rise Advisors LLC boosted its position in shares of ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 205 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after acquiring an additional 204 shares during the period. Bfsg LLC bought a new position in shares of ITT during the fourth quarter valued at $73,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ITT in the fourth quarter valued at about $78,000. Finally, GAMMA Investing LLC bought a new stake in ITT during the 4th quarter worth about $94,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ITT. UBS Group boosted their target price on ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus increased their target price on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. KeyCorp raised their price objective on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Citigroup raised their price objective on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, DA Davidson lifted their target price on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT has an average rating of “Buy” and an average price target of $138.38.

ITT Stock Up 0.0 %

ITT stock traded up $0.03 during mid-day trading on Friday, reaching $129.95. 616,411 shares of the company were exchanged, compared to its average volume of 404,463. The business has a fifty day moving average of $131.64 and a 200 day moving average of $126.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. The firm has a market cap of $10.69 billion, a P/E ratio of 25.48, a PEG ratio of 1.68 and a beta of 1.44. ITT Inc. has a 12-month low of $85.92 and a 12-month high of $140.20.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The firm had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. During the same period in the prior year, the firm earned $1.17 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that ITT Inc. will post 5.85 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Monday, June 3rd. ITT’s payout ratio is presently 25.10%.

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.