Running Oak Capital LLC Increases Stock Position in ITT Inc. (NYSE:ITT)

Running Oak Capital LLC lifted its holdings in shares of ITT Inc. (NYSE:ITT) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,879 shares of the conglomerate’s stock after buying an additional 8,915 shares during the quarter. ITT comprises 2.1% of Running Oak Capital LLC’s investment portfolio, making the stock its 2nd biggest position. Running Oak Capital LLC owned about 0.11% of ITT worth $10,486,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Los Angeles Capital Management LLC boosted its position in shares of ITT by 3.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 17,018 shares of the conglomerate’s stock valued at $2,031,000 after purchasing an additional 555 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of ITT by 2.8% in the 4th quarter. Retirement Systems of Alabama now owns 209,562 shares of the conglomerate’s stock worth $25,005,000 after purchasing an additional 5,761 shares in the last quarter. Truist Financial Corp raised its stake in shares of ITT by 1.5% in the fourth quarter. Truist Financial Corp now owns 68,176 shares of the conglomerate’s stock worth $8,135,000 after purchasing an additional 1,022 shares during the last quarter. Bfsg LLC purchased a new stake in shares of ITT during the fourth quarter valued at $73,000. Finally, GAMMA Investing LLC bought a new stake in ITT in the 4th quarter worth about $94,000. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ITT has been the topic of several research analyst reports. KeyCorp upped their target price on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. DA Davidson increased their price target on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Citigroup lifted their price objective on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $135.57.

ITT Price Performance

NYSE ITT traded down $4.79 on Thursday, hitting $124.49. The stock had a trading volume of 1,150,479 shares, compared to its average volume of 368,137. The business’s fifty day moving average price is $129.41 and its 200 day moving average price is $118.29. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. ITT Inc. has a 52-week low of $75.82 and a 52-week high of $138.29.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The business had revenue of $829.10 million for the quarter, compared to analyst estimates of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. As a group, sell-side analysts anticipate that ITT Inc. will post 5.8 EPS for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.02%. ITT’s dividend payout ratio (DPR) is presently 25.81%.

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.