CVA Family Office LLC Acquires 125 Shares of ITT Inc. (NYSE:ITT)

CVA Family Office LLC raised its holdings in shares of ITT Inc. (NYSE:ITT – Get Rating) by 32.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 515 shares of the conglomerate’s stock after purchasing an additional 125 shares during the quarter. CVA Family Office LLC’s holdings in ITT were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITT. Ronald Blue Trust Inc. bought a new stake in ITT during the 2nd quarter valued at $26,000. Lazard Asset Management LLC bought a new stake in shares of ITT in the 2nd quarter worth $30,000. Private Trust Co. NA bought a new stake in shares of ITT in the 2nd quarter worth $30,000. FNY Investment Advisers LLC bought a new stake in shares of ITT in the 3rd quarter worth $32,000. Finally, Bessemer Group Inc. grew its stake in shares of ITT by 337.5% in the 3rd quarter. Bessemer Group Inc. now owns 595 shares of the conglomerate’s stock worth $39,000 after acquiring an additional 459 shares in the last quarter. Institutional investors own 90.16% of the company’s stock.

Insider Activity

In other news, SVP Ryan F. Flynn sold 2,197 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $87.22, for a total transaction of $191,622.34. Following the completion of the transaction, the senior vice president now directly owns 16,547 shares in the company, valued at $1,443,229.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

ITT Trading Up 2.5 %

Shares of ITT stock opened at $82.10 on Friday. The firm has a market capitalization of $6.79 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.43 and a beta of 1.43. The business has a fifty day simple moving average of $89.54 and a two-hundred day simple moving average of $80.75. ITT Inc. has a 12 month low of $63.77 and a 12 month high of $95.18.

ITT (NYSE:ITT – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The conglomerate reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. The business had revenue of $774.60 million during the quarter, compared to analyst estimates of $766.82 million. ITT had a return on equity of 17.63% and a net margin of 12.28%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. Analysts predict that ITT Inc. will post 4.82 earnings per share for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Thursday, March 9th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, March 8th. This is an increase from ITT’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 1.41%. ITT’s dividend payout ratio (DPR) is presently 26.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ITT shares. Citigroup upped their target price on shares of ITT from $94.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. Stifel Nicolaus boosted their price target on shares of ITT from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Robert W. Baird upped their price objective on shares of ITT from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 10th. DA Davidson upped their price objective on shares of ITT from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 13th. Finally, KeyCorp increased their price target on shares of ITT from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 10th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.30.

ITT Company Profile

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ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.