Assenagon Asset Management S.A. Grows Stock Holdings in ITT Inc. (NYSE:ITT)

Assenagon Asset Management S.A. raised its position in shares of ITT Inc. (NYSE:ITT) by 9.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,400 shares of the conglomerate’s stock after purchasing an additional 1,372 shares during the period. Assenagon Asset Management S.A.’s holdings in ITT were worth $2,452,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Lynx Investment Advisory bought a new position in shares of ITT during the second quarter valued at about $27,000. Headlands Technologies LLC bought a new position in shares of ITT during the second quarter valued at about $32,000. UMB Bank n.a. grew 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 buying an additional 180 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of ITT during the second quarter valued at about $36,000. Finally, Quent Capital LLC grew its stake in shares of ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ITT shares. Robert W. Baird reduced their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday. The Goldman Sachs Group raised their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. TD Cowen raised their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp raised their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus raised their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $157.78.

ITT Stock Performance

ITT stock opened at $140.12 on Friday. The stock’s 50 day simple moving average is $142.90 and its two-hundred day simple moving average is $136.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.92 and a beta of 1.40. ITT Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $153.99.

ITT (NYSE:ITT) last posted 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. The business had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 EPS. As a group, analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.91%. ITT’s payout ratio is 24.90%.

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.