Townsquare Capital LLC increased its holdings in ITT Inc. (NYSE:ITT – Free Report) by 21.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,177 shares of the conglomerate’s stock after acquiring an additional 380 shares during the period. Townsquare Capital LLC’s holdings in ITT were worth $325,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in ITT during the third quarter worth $26,000. UMB Bank n.a. lifted its stake 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. Headlands Technologies LLC acquired a new position in ITT during the second quarter worth $32,000. Brown Brothers Harriman & Co. acquired a new position in ITT during the second quarter worth $36,000. Finally, Quent Capital LLC lifted its stake in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after purchasing an additional 103 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on ITT. The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. KeyCorp upped their price target on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. TD Cowen increased their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, 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, October 30th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.88.
ITT Stock Down 0.8 %
ITT stock opened at $156.46 on Friday. ITT Inc. has a 1-year low of $110.70 and a 1-year high of $161.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The stock has a market cap of $12.75 billion, a PE ratio of 26.92, a P/E/G ratio of 2.02 and a beta of 1.40. The stock’s fifty day moving average is $150.48 and its two-hundred day moving average is $139.78.
ITT (NYSE:ITT – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same period last year, the firm earned $1.37 earnings per share. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that ITT Inc. will post 5.84 EPS for the current fiscal year.
ITT Dividend Announcement
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 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 of this dividend is Friday, November 29th. ITT’s dividend payout ratio is presently 21.84%.
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.
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