ITT Inc. (NYSE:ITT) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of ITT Inc. (NYSE:ITT) by 40.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 51,996 shares of the conglomerate’s stock after acquiring an additional 14,857 shares during the quarter. Van ECK Associates Corp owned about 0.06% of ITT worth $7,513,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Lynx Investment Advisory acquired a new stake in shares of ITT during the second quarter worth about $27,000. Headlands Technologies LLC purchased a new stake in shares of ITT in the 2nd quarter valued at $32,000. UMB Bank n.a. increased its stake in shares of ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of ITT during the second quarter worth $36,000. Finally, Quent Capital LLC lifted its position in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Up 5.0 %

ITT stock opened at $152.26 on Thursday. The stock has a market capitalization of $12.41 billion, a P/E ratio of 25.98, a P/E/G ratio of 1.87 and a beta of 1.41. ITT Inc. has a 52 week low of $99.52 and a 52 week high of $154.35. The firm has a 50-day simple moving average of $143.17 and a 200-day simple moving average of $136.60. 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 (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Equities analysts forecast that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 21.84%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ITT shares. The Goldman Sachs Group increased their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen lifted their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped 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. Robert W. Baird cut their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, KeyCorp increased their price target on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT presently has an average rating of “Buy” and an average target price of $157.78.

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.