ITT Inc. (NYSE:ITT) Short Interest Up 6.4% in September

ITT Inc. (NYSE:ITT) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 608,900 shares, a growth of 6.4% from the August 31st total of 572,300 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 375,200 shares, the short-interest ratio is currently 1.6 days.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus raised their price objective on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. TD Cowen lifted their target price on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, KeyCorp lifted their target price on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $151.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of ITT by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after acquiring an additional 65,173 shares in the last quarter. SageView Advisory Group LLC increased its position in ITT by 383.3% during the 1st quarter. SageView Advisory Group LLC now owns 9,666 shares of the conglomerate’s stock valued at $1,315,000 after buying an additional 7,666 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in ITT by 6.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,105 shares of the conglomerate’s stock valued at $14,706,000 after buying an additional 6,143 shares in the last quarter. Vident Advisory LLC increased its position in ITT by 603.0% during the 1st quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock valued at $4,635,000 after buying an additional 29,225 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in ITT by 19.5% during the 1st quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock valued at $7,452,000 after buying an additional 8,956 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Price Performance

ITT opened at $147.78 on Wednesday. The business has a fifty day moving average of $137.28 and a 200 day moving average of $133.82. ITT has a 52-week low of $91.94 and a 52-week high of $152.21. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market cap of $12.16 billion, a P/E ratio of 28.98, a PEG ratio of 1.89 and a beta of 1.40.

ITT (NYSE:ITT) last issued its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. The business had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. ITT’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. As a group, sell-side analysts anticipate that ITT will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s payout ratio is 24.90%.

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.