Simplicity Wealth LLC Purchases Shares of 2,840 ITT Inc. (NYSE:ITT)

Simplicity Wealth LLC bought a new stake in ITT Inc. (NYSE:ITT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,840 shares of the conglomerate’s stock, valued at approximately $386,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC raised its stake in shares of ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 205 shares during the last quarter. AdvisorNet Financial Inc raised its position in ITT by 101.0% during the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after buying an additional 204 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of ITT by 81.7% in the 3rd quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock valued at $54,000 after acquiring an additional 250 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in shares of ITT in the first quarter worth $68,000. Finally, Bfsg LLC purchased a new position in shares of ITT during the fourth quarter worth $73,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of NYSE:ITT traded down $0.54 during trading on Wednesday, reaching $138.63. The stock had a trading volume of 229,904 shares, compared to its average volume of 376,770. The business has a fifty day moving average price of $132.24 and a 200-day moving average price of $122.54. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. The stock has a market cap of $11.41 billion, a PE ratio of 27.18, a PEG ratio of 1.82 and a beta of 1.43. ITT Inc. has a 1-year low of $75.82 and a 1-year high of $140.20.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The company had revenue of $910.60 million for the quarter, compared to analyst estimates of $883.21 million. During the same quarter in the previous year, the company posted $1.17 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts forecast that ITT Inc. will post 5.83 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.319 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. ITT’s dividend payout ratio is currently 25.10%.

Analyst Ratings Changes

ITT has been the topic of a number of recent research reports. UBS Group upped 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. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. KeyCorp raised their target price on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Stifel Nicolaus increased their price target on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Citigroup boosted their price objective on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT has a consensus rating of “Buy” and a consensus target price of $138.38.

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.