ITT Inc. (NYSE:ITT) Stock Position Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in ITT Inc. (NYSE:ITT) by 2.6% in the second quarter, Holdings Channel reports. The institutional investor owned 107,472 shares of the conglomerate’s stock after acquiring an additional 2,705 shares during the quarter. Envestnet Asset Management Inc.’s holdings in ITT were worth $13,883,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Mawer Investment Management Ltd. acquired a new position in shares of ITT in the second quarter worth $49,043,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of ITT by 73.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after purchasing an additional 288,671 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of ITT by 12.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after buying an additional 80,652 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of ITT by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after buying an additional 65,173 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in ITT by 979.6% in the first quarter. Jupiter Asset Management Ltd. now owns 61,084 shares of the conglomerate’s stock worth $8,309,000 after buying an additional 55,426 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

ITT has been the subject of several recent research reports. KeyCorp boosted their target price on shares of ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price objective on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, TD Cowen raised their target price on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $151.00.

ITT Stock Performance

NYSE:ITT opened at $147.70 on Wednesday. The firm has a market capitalization of $12.16 billion, a PE ratio of 28.96, a PEG ratio of 1.71 and a beta of 1.40. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. ITT Inc. has a 1 year low of $91.94 and a 1 year high of $149.65. The firm’s fifty day simple moving average is $136.35 and its 200 day simple moving average is $133.05.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business had revenue of $905.90 million for the quarter, compared to analyst estimates of $916.38 million. During the same period in the previous year, the company posted $1.33 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.319 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. ITT’s dividend payout ratio is 24.90%.

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.