Baird Financial Group Inc. Buys 252 Shares of ITT Inc. (NYSE:ITT)

Baird Financial Group Inc. boosted its stake in ITT Inc. (NYSE:ITT) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,972 shares of the conglomerate’s stock after purchasing an additional 252 shares during the period. Baird Financial Group Inc.’s holdings in ITT were worth $425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in ITT by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock valued at $73,913,000 after purchasing an additional 3,424 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in ITT by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock valued at $308,000 after purchasing an additional 1,936 shares during the last quarter. AlphaQuest LLC lifted its stake in ITT by 422.7% in the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock valued at $601,000 after purchasing an additional 3,403 shares during the last quarter. ING Groep NV bought a new position in ITT in the 4th quarter valued at approximately $1,214,000. Finally, Intech Investment Management LLC lifted its stake in ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate’s stock valued at $2,008,000 after purchasing an additional 9,633 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

ITT has been the subject of several research reports. Citigroup dropped their price objective on shares of ITT from $181.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 14th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. UBS Group raised their price target on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. KeyCorp raised their price target on shares of ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Stifel Nicolaus raised their price target on shares of ITT from $148.00 to $161.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.86.

ITT Price Performance

Shares of NYSE ITT opened at $150.66 on Friday. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13. The firm has a fifty day simple moving average of $133.11 and a 200 day simple moving average of $142.66. The company has a market capitalization of $11.86 billion, a PE ratio of 23.91, a P/E/G ratio of 1.89 and a beta of 1.36. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT) last announced its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. 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. ITT’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts forecast that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Monday, June 2nd. ITT’s dividend payout ratio is presently 22.26%.

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.