ITT Inc. (NYSE:ITT) Short Interest Up 6.4% in September

ITT Inc. (NYSE:ITT) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 608,900 shares, an increase of 6.4% from the August 31st total of 572,300 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 375,200 shares, the short-interest ratio is currently 1.6 days.

ITT Price Performance

ITT opened at $147.78 on Wednesday. The stock has a fifty day simple moving average of $137.28 and a two-hundred day simple moving average of $133.82. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The company has a market cap of $12.16 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 1.89 and a beta of 1.40. ITT has a 12-month low of $91.94 and a 12-month high of $152.21.

ITT (NYSE:ITT) last posted its quarterly earnings data 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. The business had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 earnings per share. Research analysts predict that ITT 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 Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $0.319 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.86%. ITT’s dividend payout ratio is currently 24.90%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On ITT

A number of institutional investors have recently modified their holdings of ITT. Lynx Investment Advisory purchased a new stake in shares of ITT in the second quarter worth $27,000. Rise Advisors LLC boosted its position in shares of ITT by 788.5% during the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after buying an additional 205 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of ITT during the second quarter valued at $32,000. Brown Brothers Harriman & Co. purchased a new stake in shares of ITT during the second quarter valued at $36,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of ITT by 71.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after buying an additional 145 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.