Texas Permanent School Fund Corp Grows Position in ITT Inc. (NYSE:ITT)

Texas Permanent School Fund Corp boosted its stake in ITT Inc. (NYSE:ITT) by 1.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,108 shares of the conglomerate’s stock after purchasing an additional 1,255 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of ITT worth $9,444,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ITT. Norges Bank purchased a new stake in ITT in the fourth quarter valued at approximately $102,709,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in ITT by 73.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock valued at $92,751,000 after buying an additional 288,671 shares in the last quarter. BNP Paribas Asset Management Holding S.A. lifted its position in ITT by 139.7% during the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 393,168 shares of the conglomerate’s stock valued at $46,912,000 after buying an additional 229,109 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in ITT by 12.5% during the first quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after buying an additional 80,652 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in ITT by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after buying an additional 65,173 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Trading Up 1.5 %

NYSE ITT opened at $130.95 on Tuesday. The company’s fifty day simple moving average is $134.52 and its 200-day simple moving average is $132.07. ITT Inc. has a 52 week low of $91.94 and a 52 week high of $149.65. 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 stock has a market cap of $10.78 billion, a P/E ratio of 25.68, a PEG ratio of 1.68 and a beta of 1.40.

ITT (NYSE:ITT) last posted its earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business had revenue of $905.90 million for the quarter, compared to analysts’ expectations of $916.38 million. During the same period in the previous year, the company posted $1.33 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.319 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. ITT’s dividend payout ratio (DPR) is presently 24.90%.

Analyst Ratings Changes

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

ITT 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.