Massmutual Trust Co. FSB ADV Purchases 145 Shares of ITT Inc. (NYSE:ITT)

Massmutual Trust Co. FSB ADV grew its position in shares of ITT Inc. (NYSE:ITT) by 71.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 348 shares of the conglomerate’s stock after acquiring an additional 145 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in ITT were worth $45,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board bought a new stake in ITT in the fourth quarter worth $992,000. Vanguard Group Inc. lifted its position in ITT by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after buying an additional 65,173 shares during the last quarter. SageView Advisory Group LLC lifted its position in ITT by 383.3% in the first quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock worth $1,315,000 after buying an additional 7,666 shares during the last quarter. Norges Bank purchased a new stake in ITT in the fourth quarter worth $102,709,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in ITT by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock worth $14,706,000 after purchasing an additional 6,143 shares during the period. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group increased their target price on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. TD Cowen increased their target price on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. KeyCorp increased their target price on ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased their target price on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, ITT has a consensus rating of “Buy” and an average target price of $151.00.

ITT Price Performance

Shares of ITT stock opened at $129.07 on Wednesday. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $149.65. The stock’s 50-day moving average is $131.96 and its 200 day moving average is $130.10. The company has a market cap of $10.62 billion, a P/E ratio of 25.31, a PEG ratio of 1.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.08.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company had revenue of $905.90 million for the quarter, compared to the consensus estimate of $916.38 million. During the same quarter last year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts predict that ITT Inc. will post 5.83 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently disclosed 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. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, September 3rd. ITT’s payout ratio is currently 25.10%.

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.