Allspring Global Investments Holdings LLC Has $12.52 Million Stock Position in ITT Inc. (NYSE:ITT)

Allspring Global Investments Holdings LLC lifted its position in shares of ITT Inc. (NYSE:ITT) by 0.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,452 shares of the conglomerate’s stock after buying an additional 137 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ITT were worth $12,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITT. Rialto Wealth Management LLC acquired a new stake in shares of ITT during the fourth quarter worth $26,000. Quarry LP raised its stake in ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 125 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock valued at $59,000 after purchasing an additional 309 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in ITT in the fourth quarter valued at about $59,000. Finally, Versant Capital Management Inc raised its stake in ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate’s stock valued at $70,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Trading Up 0.8%

Shares of NYSE ITT opened at $161.39 on Friday. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.09 and a beta of 1.35. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.53. The stock has a 50-day moving average price of $149.61 and a two-hundred day moving average price of $142.67.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a return on equity of 17.75% and a net margin of 14.19%. The company had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts predict that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, June 2nd. ITT’s dividend payout ratio is currently 22.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup dropped their price target on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 14th. KeyCorp boosted their price target on ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Wall Street Zen raised ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group boosted their price target on ITT from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Finally, Stifel Nicolaus boosted their price target on ITT from $161.00 to $171.00 and gave the company a “buy” rating in a research note on Friday, May 16th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.50.

About ITT

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.