ITT Inc. (NYSE:ITT) Short Interest Update

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On ITT

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lynx Investment Advisory acquired a new stake in shares of ITT during the second quarter worth $27,000. Rise Advisors LLC lifted its stake in shares of ITT by 788.5% in the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 205 shares during the period. Headlands Technologies LLC acquired a new position in shares of ITT during the second quarter worth about $32,000. Brown Brothers Harriman & Co. purchased a new position in ITT during the second quarter worth about $36,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in ITT by 71.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 145 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

Shares of ITT traded down $1.73 during midday trading on Tuesday, reaching $147.78. 421,045 shares of the stock were exchanged, compared to its average volume of 382,788. ITT has a twelve month low of $91.94 and a twelve month high of $152.21. 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 company has a market capitalization of $12.16 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.89 and a beta of 1.40. The business’s 50-day moving average price is $137.16 and its 200 day moving average price is $133.68.

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

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 0.86%. ITT’s dividend payout ratio is presently 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.