ITT Inc. (NYSE:ITT) Position Cut by Swiss National Bank

Swiss National Bank trimmed its position in shares of ITT Inc. (NYSE:ITT) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,700 shares of the conglomerate’s stock after selling 1,200 shares during the period. Swiss National Bank’s holdings in ITT were worth $24,026,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ITT. Algert Global LLC acquired a new position in shares of ITT during the second quarter worth approximately $1,158,000. Harbor Capital Advisors Inc. boosted its position in ITT by 242.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock worth $2,895,000 after acquiring an additional 15,866 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of ITT in the first quarter worth $1,388,000. AQR Capital Management LLC increased its holdings in shares of ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after purchasing an additional 30,320 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Price Performance

NYSE ITT opened at $155.46 on Friday. ITT Inc. has a 1 year low of $107.01 and a 1 year high of $156.00. The business’s fifty day moving average is $147.82 and its two-hundred day moving average is $138.49. The stock has a market capitalization of $12.67 billion, a P/E ratio of 26.53, a P/E/G ratio of 1.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.

ITT (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. ITT’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 earnings per share. On average, research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio (DPR) is currently 21.84%.

Analysts Set New Price Targets

ITT has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price 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. TD Cowen raised their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird cut their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. KeyCorp lifted their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group upped their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $161.88.

ITT Company 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.