Ontario Teachers Pension Plan Board Invests $992,000 in ITT Inc. (NYSE:ITT)

Ontario Teachers Pension Plan Board acquired a new stake in shares of ITT Inc. (NYSE:ITT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,310 shares of the conglomerate’s stock, valued at approximately $992,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITT. AdvisorNet Financial Inc grew its holdings in ITT by 101.0% during the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after purchasing an additional 204 shares during the period. Clearstead Advisors LLC grew its stake in shares of ITT by 81.7% during 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 period. Bfsg LLC purchased a new stake in ITT in the 4th quarter worth approximately $73,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in ITT during the 4th quarter worth approximately $78,000. Finally, GAMMA Investing LLC purchased a new position in ITT during the fourth quarter valued at approximately $94,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Performance

NYSE:ITT opened at $137.57 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.78 and a beta of 1.43. ITT Inc. has a 1 year low of $75.82 and a 1 year high of $140.20. The stock’s 50 day simple moving average is $132.65 and its two-hundred day simple moving average is $123.05.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. During the same quarter in the previous year, the business posted $1.17 earnings per share. ITT’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts anticipate that ITT Inc. will post 5.85 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Monday, June 3rd. ITT’s payout ratio is 25.10%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. KeyCorp boosted their price objective on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. StockNews.com cut ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. DA Davidson boosted their price target on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus increased their price objective on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ITT currently has an average rating of “Buy” and an average target price of $138.38.

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.