AE Wealth Management LLC Acquires 100 Shares of ITT Inc. (NYSE:ITT)

AE Wealth Management LLC grew its holdings in shares of ITT Inc. (NYSE:ITT) by 5.9% in the second quarter, Holdings Channel reports. The institutional investor owned 1,802 shares of the conglomerate’s stock after acquiring an additional 100 shares during the period. AE Wealth Management LLC’s holdings in ITT were worth $233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in ITT by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after acquiring an additional 65,173 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in ITT by 383.3% during the first quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock worth $1,315,000 after purchasing an additional 7,666 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in ITT by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock worth $14,706,000 after purchasing an additional 6,143 shares in the last quarter. Vident Advisory LLC increased its stake in ITT by 603.0% in the 1st quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock valued at $4,635,000 after buying an additional 29,225 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of ITT by 19.5% during the 1st quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock worth $7,452,000 after buying an additional 8,956 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on ITT shares. KeyCorp increased their price target on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. TD Cowen raised their target price on 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 boosted their price target on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT presently has an average rating of “Buy” and an average price target of $151.00.

ITT Stock Down 0.4 %

Shares of NYSE ITT opened at $150.00 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The stock has a market capitalization of $12.35 billion, a PE ratio of 29.41, a P/E/G ratio of 1.89 and a beta of 1.40. ITT Inc. has a one year low of $91.94 and a one year high of $152.21. The business’s fifty day moving average price is $136.99 and its 200-day moving average price is $133.48.

ITT (NYSE:ITT) last issued its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. The firm had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $1.33 earnings per share. On average, equities research analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed 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 is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.85%. ITT’s dividend payout ratio is 24.90%.

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.