ITT Inc. (NYSE:ITT) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in shares of ITT Inc. (NYSE:ITT) by 262.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,320 shares of the conglomerate’s stock after purchasing an additional 956 shares during the period. Advisors Asset Management Inc.’s holdings in ITT were worth $197,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in ITT during the 3rd quarter worth about $26,000. Lynx Investment Advisory acquired a new stake in ITT during the 2nd quarter worth about $27,000. Headlands Technologies LLC acquired a new stake in ITT during the 2nd quarter worth about $32,000. UMB Bank n.a. grew its position in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of ITT during the 2nd quarter worth about $36,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Trading Down 2.0 %

Shares of ITT stock opened at $155.60 on Friday. The firm has a market capitalization of $12.68 billion, a PE ratio of 26.55, a P/E/G ratio of 2.07 and a beta of 1.41. ITT Inc. has a twelve month low of $107.01 and a twelve month high of $161.13. The firm’s 50-day moving average price is $149.49 and its 200 day moving average price is $139.14. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last released its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $884.50 million. During the same period last year, the company posted $1.37 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio (DPR) is 21.67%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ITT. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird lowered their target price 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. TD Cowen increased their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.88.

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.