Commerce Bank Purchases 362 Shares of ITT Inc. (NYSE:ITT)

Commerce Bank boosted its position in ITT Inc. (NYSE:ITT) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,901 shares of the conglomerate’s stock after purchasing an additional 362 shares during the quarter. Commerce Bank’s holdings in ITT were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ITT. Select Equity Group L.P. raised its position in shares of ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after buying an additional 351,206 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ITT by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after acquiring an additional 50,329 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ITT by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after acquiring an additional 3,370 shares during the last quarter. Millennium Management LLC grew its holdings in shares of ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after purchasing an additional 262,470 shares in the last quarter. Finally, Mawer Investment Management Ltd. bought a new position in shares of ITT in the second quarter worth approximately $49,043,000. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ITT. KeyCorp raised their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted 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. Finally, Robert W. Baird cut their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $161.88.

ITT Trading Up 1.9 %

NYSE:ITT opened at $158.38 on Friday. The company has a 50-day moving average price of $148.28 and a 200-day moving average price of $138.71. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 2.02 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 $158.56.

ITT (NYSE:ITT) last posted its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share 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 business 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 firm posted $1.37 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Equities analysts predict that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.81%. ITT’s dividend payout ratio (DPR) is 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.