Oppenheimer & Co. Inc. Purchases 1,963 Shares of ITT Inc. (NYSE:ITT)

Oppenheimer & Co. Inc. boosted its position in ITT Inc. (NYSE:ITT) by 107.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,794 shares of the conglomerate’s stock after acquiring an additional 1,963 shares during the period. Oppenheimer & Co. Inc.’s holdings in ITT were worth $490,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ITT. Oppenheimer Asset Management Inc. grew its position in shares of ITT by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,609 shares of the conglomerate’s stock worth $1,499,000 after buying an additional 123 shares during the last quarter. Running Oak Capital LLC lifted its stake in ITT by 13.8% in the first quarter. Running Oak Capital LLC now owns 113,181 shares of the conglomerate’s stock worth $14,618,000 after acquiring an additional 13,737 shares during the period. Suncoast Equity Management boosted its holdings in ITT by 17.3% in the first quarter. Suncoast Equity Management now owns 13,596 shares of the conglomerate’s stock valued at $1,756,000 after acquiring an additional 2,001 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in ITT by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 9,536 shares of the conglomerate’s stock valued at $1,231,000 after acquiring an additional 240 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in ITT during the 1st quarter valued at $219,000. Institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of ITT stock opened at $158.62 on Wednesday. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $161.13. The company has a 50-day moving average of $148.58 and a 200 day moving average of $142.48. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.05 and a beta of 1.35.

ITT (NYSE:ITT) last announced its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. ITT had a net margin of 14.19% and a return on equity of 17.75%. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. During the same quarter last year, the firm earned $1.42 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, June 2nd. ITT’s payout ratio is 22.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ITT shares. Wall Street Zen raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Bank of America increased their price target on shares of ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Citigroup lowered their price objective on shares of ITT from $181.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 14th. Stifel Nicolaus lifted their price objective on ITT from $161.00 to $171.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group increased their target price on ITT from $160.00 to $177.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $165.50.

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.