CGN Advisors LLC Buys Shares of 8,430 ITT Inc. (NYSE:ITT)

CGN Advisors LLC acquired a new stake in ITT Inc. (NYSE:ITT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,430 shares of the conglomerate's stock, valued at approximately $1,204,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp increased its holdings in ITT by 1.3% during the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate's stock valued at $797,000 after purchasing an additional 69 shares during the period. CIBC Asset Management Inc grew its position in shares of ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate's stock worth $360,000 after buying an additional 87 shares during the last quarter. Round Rock Advisors LLC increased its stake in shares of ITT by 0.4% during the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate's stock valued at $3,038,000 after buying an additional 90 shares during the period. Tectonic Advisors LLC raised its holdings in shares of ITT by 3.3% during the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate's stock valued at $437,000 after acquiring an additional 93 shares in the last quarter. Finally, AE Wealth Management LLC boosted its holdings in ITT by 5.9% in the second quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate's stock valued at $233,000 after acquiring an additional 100 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of ITT from $171.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. The Goldman Sachs Group increased their price target on shares of ITT from $150.00 to $166.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. StockNews.com cut ITT from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Wolfe Research assumed coverage on ITT in a research report on Wednesday, December 11th. They issued a "peer perform" rating for the company. Finally, Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.50.

ITT Stock Up 1.4 %

ITT stock traded up $2.11 on Friday, reaching $151.24. 456,503 shares of the company traded hands, compared to its average volume of 308,397. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The firm has a fifty day simple moving average of $149.46 and a 200-day simple moving average of $143.21. ITT Inc. has a one year low of $117.25 and a one year high of $161.13. The company has a market cap of $12.33 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 1.63 and a beta of 1.41.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the company earned $1.37 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. Research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, November 29th. ITT's payout ratio is 21.84%.

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.