Weil Company Inc. Makes New $218,000 Investment in ITT Inc. (NYSE:ITT)

Weil Company Inc. acquired a new position in shares of ITT Inc. (NYSE:ITT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,393 shares of the conglomerate’s stock, valued at approximately $218,000.

A number of other large investors also recently bought and sold shares of the business. Sei Investments Co. raised its position in ITT by 16.2% during the first quarter. Sei Investments Co. now owns 81,258 shares of the conglomerate’s stock worth $7,289,000 after acquiring an additional 11,312 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of ITT by 108.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,361 shares of the conglomerate’s stock valued at $1,226,000 after buying an additional 7,461 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of ITT by 16.9% in the first quarter. TimesSquare Capital Management LLC now owns 404,900 shares of the conglomerate’s stock valued at $36,809,000 after buying an additional 58,500 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of ITT by 22.3% in the first quarter. Teacher Retirement System of Texas now owns 9,747 shares of the conglomerate’s stock valued at $886,000 after buying an additional 1,779 shares during the last quarter. Finally, Synovus Financial Corp raised its position in shares of ITT by 11.2% in the first quarter. Synovus Financial Corp now owns 19,075 shares of the conglomerate’s stock valued at $1,732,000 after buying an additional 1,916 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Shares of ITT opened at $92.33 on Friday. ITT Inc. has a 12-month low of $52.61 and a 12-month high of $101.32. The firm has a 50-day moving average price of $93.76. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 109.92, a P/E/G ratio of 1.59 and a beta of 1.58.

ITT (NYSE:ITT) last announced its earnings results on Friday, May 7th. The conglomerate reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.19. The company had revenue of $698.40 million during the quarter, compared to analyst estimates of $660.34 million. ITT had a net margin of 2.94% and a return on equity of 14.48%. ITT’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. On average, sell-side analysts expect that ITT Inc. will post 3.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 6th. Shareholders of record on Monday, June 21st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, June 18th. ITT’s dividend payout ratio (DPR) is presently 27.50%.

A number of brokerages have recently commented on ITT. KeyCorp increased their target price on shares of ITT from $87.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 13th. Gordon Haskett reiterated a “hold” rating and issued a $101.00 target price on shares of ITT in a research report on Wednesday, May 19th. Oppenheimer increased their target price on shares of ITT from $87.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday, March 22nd. Cowen increased their target price on shares of ITT from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, March 25th. Finally, UBS Group increased their target price on shares of ITT from $92.00 to $107.00 and gave the company a “neutral” rating in a research report on Monday, May 17th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. ITT presently has an average rating of “Buy” and a consensus price target of $96.63.

ITT Company Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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, light- and heavy-duty commercial and military vehicles, buses, and rail.

Recommended Story: What is the Bid-Ask Spread?

Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT).

Institutional Ownership by Quarter for ITT (NYSE:ITT)

Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.