Cookson Peirce & Co. Inc. Takes $9.11 Million Position in ITT Inc. (NYSE:ITT)

Cookson Peirce & Co. Inc. purchased a new position in shares of ITT Inc. (NYSE:ITT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 76,360 shares of the conglomerate’s stock, valued at approximately $9,111,000.

Several other hedge funds have also recently bought and sold shares of ITT. IFP Advisors Inc raised its position in shares of ITT by 63.4% in the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after buying an additional 118 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of ITT in the 3rd quarter worth about $34,000. KB Financial Partners LLC bought a new stake in ITT in the 1st quarter worth about $36,000. AdvisorNet Financial Inc grew its position in shares of ITT by 101.0% during the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after acquiring an additional 204 shares during the period. Finally, Clearstead Advisors LLC grew its stake in 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 buying an additional 250 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Trading Down 0.2 %

NYSE ITT traded down $0.22 on Tuesday, hitting $127.60. 267,331 shares of the company’s stock traded hands, compared to its average volume of 354,263. ITT Inc. has a 1-year low of $75.82 and a 1-year high of $138.29. The firm’s 50-day moving average price is $128.11 and its two-hundred day moving average price is $115.87. The firm has a market capitalization of $10.50 billion, a PE ratio of 25.78, a P/E/G ratio of 1.76 and a beta of 1.43.

ITT (NYSE:ITT) last posted its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The firm had revenue of $829.10 million during the quarter, compared to analysts’ expectations of $814.38 million. During the same period in the previous year, the business posted $1.29 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts anticipate that ITT Inc. will post 5.79 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.319 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a yield of 1.00%. This is a boost from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio is presently 25.81%.

Analyst Ratings Changes

Several brokerages have commented on ITT. DA Davidson raised their price target on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Citigroup upped their target price on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their price objective on shares of ITT from $122.00 to $131.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, KeyCorp increased their price objective on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT has an average rating of “Buy” and a consensus price target of $132.86.

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.