Tectonic Advisors LLC Has $437,000 Stock Position in ITT Inc. (NYSE:ITT)

Tectonic Advisors LLC boosted its holdings in ITT Inc. (NYSE:ITT) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,925 shares of the conglomerate’s stock after buying an additional 93 shares during the quarter. Tectonic Advisors LLC’s holdings in ITT were worth $437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lynx Investment Advisory bought a new position in shares of ITT in the second quarter worth about $27,000. Headlands Technologies LLC acquired a new position in ITT during the 2nd quarter worth approximately $32,000. UMB Bank n.a. lifted its stake in ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of ITT during the second quarter worth $36,000. Finally, Quent Capital LLC lifted its stake in shares of ITT by 53.9% in the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Stock Up 0.3 %

ITT stock opened at $143.78 on Friday. The firm has a 50 day moving average price of $142.17 and a two-hundred day moving average price of $135.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. ITT Inc. has a 52-week low of $91.94 and a 52-week high of $153.99. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.92 and a beta of 1.40.

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

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.319 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 annualized dividend and a yield of 0.89%. ITT’s dividend payout ratio is currently 24.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. TD Cowen upped their price objective on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. KeyCorp raised their price objective on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $155.25.

ITT 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.