Fortem Financial Group LLC Has $1.49 Million Position in ITT Inc. (NYSE:ITT)

Fortem Financial Group LLC lifted its stake in shares of ITT Inc. (NYSE:ITT) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,440 shares of the conglomerate’s stock after buying an additional 220 shares during the quarter. Fortem Financial Group LLC’s holdings in ITT were worth $1,492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ITT. Commonwealth Equity Services LLC grew its position in shares of ITT by 15.0% in the second quarter. Commonwealth Equity Services LLC now owns 32,778 shares of the conglomerate’s stock valued at $4,234,000 after purchasing an additional 4,269 shares during the last quarter. Arizona State Retirement System grew its stake in shares of ITT by 2.1% in the second quarter. Arizona State Retirement System now owns 23,028 shares of the conglomerate’s stock valued at $2,975,000 after acquiring an additional 465 shares in the last quarter. Private Advisor Group LLC increased its position in ITT by 2.7% during the second quarter. Private Advisor Group LLC now owns 4,608 shares of the conglomerate’s stock worth $595,000 after acquiring an additional 122 shares during the period. Los Angeles Capital Management LLC raised its stake in ITT by 2.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 17,384 shares of the conglomerate’s stock worth $2,246,000 after purchasing an additional 400 shares in the last quarter. Finally, Pier 88 Investment Partners LLC boosted its holdings in ITT by 190.8% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 7,560 shares of the conglomerate’s stock valued at $977,000 after purchasing an additional 4,960 shares during the period. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ITT shares. TD Cowen raised their price target on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wolfe Research initiated coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Stifel Nicolaus upped their price target on shares of ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird decreased their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Citigroup upped their target price on ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.75.

ITT Price Performance

ITT stock traded up $0.06 during midday trading on Monday, reaching $142.85. 162,929 shares of the stock were exchanged, compared to its average volume of 215,608. ITT Inc. has a 52 week low of $114.24 and a 52 week high of $161.13. The company has a fifty day moving average price of $149.82 and a 200 day moving average price of $142.21. 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 stock has a market capitalization of $11.64 billion, a PE ratio of 24.38, a P/E/G ratio of 1.95 and a beta of 1.41.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) 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 company had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts expect that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, November 29th. ITT’s dividend payout ratio is currently 21.67%.

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.