ITT Inc. (NYSE:ITT) Sees Large Increase in Short Interest

ITT Inc. (NYSE:ITT) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,340,000 shares, a growth of 28.8% from the November 15th total of 1,040,000 shares. Based on an average daily trading volume, of 373,000 shares, the short-interest ratio is presently 3.6 days. Approximately 1.7% of the company’s shares are sold short.

Hedge Funds Weigh In On ITT

Large investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in shares of ITT by 12.4% during the 3rd quarter. Tidal Investments LLC now owns 6,487 shares of the conglomerate’s stock worth $970,000 after acquiring an additional 716 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of ITT in the 3rd quarter valued at $64,000. Sanctuary Advisors LLC raised its holdings in ITT by 6.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate’s stock worth $626,000 after buying an additional 225 shares during the period. Geode Capital Management LLC raised its holdings in ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after buying an additional 8,223 shares during the period. Finally, Resources Management Corp CT ADV acquired a new position in shares of ITT in the third quarter worth about $30,000. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT stock traded down $1.47 during trading on Friday, reaching $150.70. 248,066 shares of the company’s stock were exchanged, compared to its average volume of 378,282. The firm has a market cap of $12.28 billion, a PE ratio of 25.71, a P/E/G ratio of 1.99 and a beta of 1.40. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. ITT has a 1-year low of $113.70 and a 1-year high of $161.13. The company’s fifty day moving average price is $151.18 and its 200-day moving average price is $140.52.

ITT (NYSE:ITT) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. During the same period in the prior year, the business posted $1.37 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts expect that ITT will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 21.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Robert W. Baird dropped their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Stifel Nicolaus lifted their price target on shares of ITT from $171.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen upped their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Wolfe Research began coverage on ITT in a report on Wednesday. They issued a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.75.

ITT Company Profile

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.