Cerity Partners LLC Raises Position in ITT Inc. (NYSE:ITT)

Cerity Partners LLC raised its holdings in shares of ITT Inc. (NYSE:ITT) by 23.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,961 shares of the conglomerate’s stock after buying an additional 11,175 shares during the quarter. Cerity Partners LLC’s holdings in ITT were worth $8,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of ITT during the third quarter worth about $26,000. Lynx Investment Advisory bought a new stake in ITT during the second quarter valued at approximately $27,000. UMB Bank n.a. grew its stake in ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after buying an additional 180 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of ITT in the 2nd quarter worth $32,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of ITT during the 2nd quarter valued at $36,000. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Down 0.6 %

Shares of ITT stock opened at $158.68 on Wednesday. The company’s 50 day moving average price is $148.76 and its 200-day moving average price is $138.88. ITT Inc. has a 52-week low of $107.01 and a 52-week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 2.05 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly 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. The business had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 EPS. Equities research analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently declared 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. This represents a $1.28 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 21.84%.

Analyst Ratings Changes

ITT has been the topic of a number of research analyst reports. KeyCorp increased their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. 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 report on Thursday, October 10th. TD Cowen upped their target price 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 target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ITT has an average rating of “Buy” and a consensus target price of $161.88.

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.