MML Investors Services LLC Buys 150 Shares of ITT Inc. (NYSE:ITT)

MML Investors Services LLC raised its stake in ITT Inc. (NYSE:ITT) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,070 shares of the conglomerate’s stock after acquiring an additional 150 shares during the period. MML Investors Services LLC’s holdings in ITT were worth $758,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Select Equity Group L.P. raised its holdings in ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares during the last quarter. State Street Corp boosted its holdings in shares of ITT by 1.1% during the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after buying an additional 26,133 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ITT by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after acquiring an additional 50,329 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of ITT by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock worth $106,961,000 after buying an additional 3,370 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of ITT by 4.3% in the third quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after acquiring an additional 27,885 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.8 %

ITT stock opened at $143.68 on Friday. The business has a 50-day simple moving average of $150.93 and a two-hundred day simple moving average of $140.92. ITT Inc. has a 52-week low of $113.70 and a 52-week high of $161.13. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The company has a market cap of $11.71 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.99 and a beta of 1.40.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the firm earned $1.37 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts predict 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. Shareholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio is presently 21.67%.

Analysts Set New Price Targets

ITT has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of ITT from $176.00 to $183.00 and gave the company a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group increased their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird lowered their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. KeyCorp lifted their price objective on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, TD Cowen upped their target price 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.75.

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.