Thrivent Financial for Lutherans Purchases 18,045 Shares of ITT Inc. (NYSE:ITT)

Thrivent Financial for Lutherans lifted its position in shares of ITT Inc. (NYSE:ITT) by 30.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,957 shares of the conglomerate’s stock after purchasing an additional 18,045 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of ITT worth $11,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in ITT by 16.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,380 shares of the conglomerate’s stock worth $1,257,000 after acquiring an additional 1,346 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in ITT by 17.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,472 shares of the conglomerate’s stock valued at $336,000 after purchasing an additional 363 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in ITT by 1.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 51,684 shares of the conglomerate’s stock valued at $7,028,000 after buying an additional 859 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in ITT in the first quarter valued at about $241,000. Finally, Price T Rowe Associates Inc. MD grew its stake in ITT by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,408 shares of the conglomerate’s stock worth $6,313,000 after buying an additional 2,637 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. 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. Robert W. Baird decreased their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. KeyCorp lifted 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, Stifel Nicolaus raised their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT presently has an average rating of “Buy” and an average price target of $161.88.

ITT Stock Performance

Shares of ITT stock opened at $155.46 on Friday. The business has a 50-day simple moving average of $147.82 and a 200 day simple moving average of $138.49. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. ITT Inc. has a one year low of $107.01 and a one year high of $156.00.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same period last year, the business earned $1.37 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.319 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.82%. ITT’s payout ratio 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.