ITT Inc (NYSE:ITT) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 1,133,100 shares, a growth of 53.0% from the May 30th total of 740,500 shares. Based on an average daily trading volume, of 553,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.3% of the company’s shares are sold short.

In related news, CFO Thomas M. Scalera sold 64,135 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.57, for a total value of $3,948,791.95. Following the transaction, the chief financial officer now directly owns 73,701 shares of the company’s stock, valued at approximately $4,537,770.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Farrokh Batliwala sold 8,950 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.38, for a total value of $549,351.00. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Palladium Partners LLC grew its stake in shares of ITT by 5.1% during the first quarter. Palladium Partners LLC now owns 15,529 shares of the conglomerate’s stock valued at $901,000 after acquiring an additional 750 shares in the last quarter. Marshall Wace North America L.P. grew its stake in ITT by 149.8% in the first quarter. Marshall Wace North America L.P. now owns 3,300 shares of the conglomerate’s stock worth $191,000 after purchasing an additional 1,979 shares in the last quarter. SG Americas Securities LLC grew its stake in ITT by 365.1% in the first quarter. SG Americas Securities LLC now owns 48,123 shares of the conglomerate’s stock worth $2,791,000 after purchasing an additional 37,776 shares in the last quarter. Millennium Management LLC grew its stake in ITT by 157.1% in the fourth quarter. Millennium Management LLC now owns 356,103 shares of the conglomerate’s stock worth $17,189,000 after purchasing an additional 217,573 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in ITT by 106.5% in the first quarter. State of Alaska Department of Revenue now owns 19,160 shares of the conglomerate’s stock worth $1,110,000 after purchasing an additional 9,880 shares in the last quarter. Institutional investors own 89.74% of the company’s stock.

Several research analysts recently weighed in on the company. Oppenheimer set a $68.00 target price on ITT and gave the stock a “buy” rating in a research report on Wednesday, March 27th. ValuEngine upgraded ZIX from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Zacks Investment Research upgraded Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Wednesday, June 12th. Finally, Stifel Nicolaus upgraded QUALCOMM from a “hold” rating to a “buy” rating and increased their price target for the company from $57.00 to $100.00 in a report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $66.75.

Shares of ITT stock traded down $0.25 during trading hours on Thursday, hitting $63.42. 467,200 shares of the company’s stock traded hands, compared to its average volume of 537,865. The stock has a 50 day moving average of $62.09. The stock has a market cap of $5.74 billion, a P/E ratio of 19.63, a PEG ratio of 2.00 and a beta of 1.59. ITT has a twelve month low of $44.89 and a twelve month high of $66.88.

ITT (NYSE:ITT) last announced its earnings results on Friday, May 3rd. The conglomerate reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $695.50 million during the quarter, compared to the consensus estimate of $682.49 million. ITT had a return on equity of 16.69% and a net margin of 11.04%. The company’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. As a group, research analysts predict that ITT will post 3.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 10th were paid a dividend of $0.147 per share. The ex-dividend date was Friday, June 7th. This represents a $0.59 annualized dividend and a dividend yield of 0.93%. ITT’s dividend payout ratio is presently 18.27%.

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 in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking 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.

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