Quest Partners LLC Has $2.22 Million Holdings in ITT Inc. (NYSE:ITT)

Quest Partners LLC grew its holdings in shares of ITT Inc. (NYSE:ITT) by 197.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,220 shares of the conglomerate’s stock after acquiring an additional 11,428 shares during the quarter. Quest Partners LLC’s holdings in ITT were worth $2,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ITT. Benjamin F. Edwards & Company Inc. increased its position in ITT by 3,528.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 907 shares of the conglomerate’s stock worth $108,000 after purchasing an additional 882 shares in the last quarter. M&T Bank Corp lifted its stake in shares of ITT by 3.3% in the 4th quarter. M&T Bank Corp now owns 5,223 shares of the conglomerate’s stock valued at $623,000 after acquiring an additional 168 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of ITT by 9.3% during the 4th quarter. Private Advisor Group LLC now owns 4,535 shares of the conglomerate’s stock valued at $541,000 after acquiring an additional 386 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in ITT by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,916 shares of the conglomerate’s stock worth $61,201,000 after acquiring an additional 11,154 shares during the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new position in ITT in the 4th quarter worth about $227,000. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $129.05 on Monday. The stock has a market capitalization of $10.62 billion, a PE ratio of 25.30, a PEG ratio of 1.68 and a beta of 1.40. The business’s 50 day simple moving average is $134.42 and its 200 day simple moving average is $132.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. ITT Inc. has a one year low of $91.94 and a one year high of $149.65.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. The company had revenue of $905.90 million for 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 period in the prior year, the firm posted $1.33 EPS. As a group, research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.319 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. ITT’s payout ratio is 24.90%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ITT shares. TD Cowen boosted their price target on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Stifel Nicolaus lifted their target price on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, KeyCorp upped 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price 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.