Algert Global LLC Increases Position in ITT Inc. (NYSE:ITT)

Algert Global LLC lifted its position in shares of ITT Inc. (NYSE:ITT) by 101.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,034 shares of the conglomerate’s stock after purchasing an additional 9,070 shares during the period. Algert Global LLC’s holdings in ITT were worth $2,696,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ITT. Capital Performance Advisors LLP purchased a new stake in ITT during the 3rd quarter worth about $26,000. Lynx Investment Advisory purchased a new stake in ITT during the second quarter worth approximately $27,000. Headlands Technologies LLC purchased a new position in ITT in the second quarter valued at approximately $32,000. UMB Bank n.a. raised its holdings in ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of ITT during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Down 0.6 %

NYSE:ITT opened at $158.68 on Wednesday. ITT Inc. has a 12-month low of $107.01 and a 12-month high of $161.13. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The stock’s 50 day simple moving average is $148.76 and its 200-day simple moving average is $138.88. The firm has a market cap of $12.93 billion, a P/E ratio of 27.08, a PEG ratio of 2.05 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating 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 company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same period in the previous year, the company posted $1.37 EPS. ITT’s revenue was up 7.7% compared to the same quarter last year. Equities 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 Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.319 dividend. 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 dividend payout ratio is presently 21.84%.

Analyst Ratings Changes

A number of research analysts recently commented on ITT shares. Stifel Nicolaus increased their target price on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen boosted their target price on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, 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.