Capital Performance Advisors LLP Invests $26,000 in ITT Inc. (NYSE:ITT)

Capital Performance Advisors LLP acquired a new stake in shares of ITT Inc. (NYSE:ITT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 172 shares of the conglomerate’s stock, valued at approximately $26,000.

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

Analysts Set New Price Targets

A number of analysts have recently commented on ITT shares. TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted 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 raised their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. KeyCorp boosted their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Robert W. Baird reduced 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. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $157.78.

ITT Stock Up 1.5 %

ITT stock opened at $155.37 on Tuesday. The company’s 50 day simple moving average is $144.37 and its 200-day simple moving average is $137.28. ITT Inc. has a 52-week low of $102.31 and a 52-week high of $155.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The firm has a market capitalization of $12.66 billion, a P/E ratio of 26.51, a P/E/G ratio of 2.02 and a beta of 1.41.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping the consensus estimate 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%. ITT’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. As a group, equities research analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio (DPR) is 21.84%.

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.