Advisors Asset Management Inc. Increases Holdings in ITT Inc. (NYSE:ITT)

Advisors Asset Management Inc. lifted its position in ITT Inc. (NYSE:ITT) by 262.6% in the third quarter, according to its most recent Form 13F 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 large investors have also recently modified their holdings of the company. Algert Global LLC purchased a new stake in shares of ITT in the second quarter valued at approximately $1,158,000. Harbor Capital Advisors Inc. boosted its holdings in shares of ITT by 242.6% in the second quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock valued at $2,895,000 after purchasing an additional 15,866 shares during the period. AQR Capital Management LLC boosted its holdings in shares of ITT by 115.6% in the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of ITT by 46.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after purchasing an additional 30,320 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in ITT by 16,832.5% during the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock worth $2,101,000 after buying an additional 13,971 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $155.60 on Friday. The business’s fifty day simple moving average is $149.49 and its 200-day simple moving average is $139.14. The company has a market cap of $12.68 billion, a PE ratio of 26.55, a PEG ratio of 2.07 and a beta of 1.41. 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 Inc. has a 12-month low of $107.01 and a 12-month high of $161.13.

ITT (NYSE:ITT) last released its earnings results 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 return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same period in the prior year, the firm earned $1.37 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on ITT. StockNews.com lowered ITT from a “buy” rating to a “hold” rating in a report on Wednesday. Robert W. Baird lowered their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus upped their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp upped their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group upped their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.88.

ITT 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.