1,577 Shares in ITT Inc. (NYSE:ITT) Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. purchased a new stake in ITT Inc. (NYSE:ITT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,577 shares of the conglomerate’s stock, valued at approximately $236,000.

Several other large investors have also modified their holdings of ITT. Algert Global LLC acquired a new position in ITT during the second quarter worth approximately $1,158,000. Harbor Capital Advisors Inc. increased its holdings in shares of ITT by 242.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock worth $2,895,000 after buying an additional 15,866 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of ITT in the 3rd quarter worth $67,503,000. AQR Capital Management LLC grew its position in ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after acquiring an additional 131,708 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after acquiring an additional 30,320 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a report on Wednesday. KeyCorp increased their price objective on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Robert W. Baird cut their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, TD Cowen upped their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $161.88.

ITT Trading Down 2.0 %

NYSE:ITT opened at $155.60 on Friday. ITT Inc. has a one year low of $107.01 and a one year high of $161.13. The business’s 50-day simple moving average is $149.49 and its 200 day simple moving average is $139.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 2.07 and a beta of 1.41.

ITT (NYSE:ITT) last released its quarterly 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. The business had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. As a group, sell-side analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

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

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.