Toronto Dominion Bank Takes Position in ITT Inc. (NYSE:ITT)

Toronto Dominion Bank purchased a new stake in shares of ITT Inc. (NYSE:ITT) during the second quarter, HoldingsChannel reports. The institutional investor purchased 2,453 shares of the conglomerate’s stock, valued at approximately $317,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lynx Investment Advisory purchased a new stake in shares of ITT in the second quarter worth about $27,000. Rise Advisors LLC grew its stake in shares of ITT by 788.5% during the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 205 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of ITT in the second quarter worth about $32,000. Brown Brothers Harriman & Co. purchased a new position in ITT in the second quarter valued at about $36,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in ITT by 71.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

NYSE ITT opened at $149.53 on Tuesday. The company’s fifty day moving average is $137.16 and its two-hundred day moving average is $133.68. ITT Inc. has a 52-week low of $91.94 and a 52-week high of $152.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 1.89 and a beta of 1.40.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. During the same period last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s dividend payout ratio is presently 24.90%.

Analyst Ratings Changes

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

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.