Wilmington Savings Fund Society FSB Takes $64,000 Position in ITT Inc. (NYSE:ITT)

Wilmington Savings Fund Society FSB bought a new position in ITT Inc. (NYSE:ITT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 427 shares of the conglomerate’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITT. Capital Performance Advisors LLP purchased a new stake in shares of ITT in the 3rd quarter valued at $26,000. Resources Management Corp CT ADV acquired a new stake in ITT during the 3rd quarter worth about $30,000. Headlands Technologies LLC acquired a new stake in ITT during the 2nd quarter worth about $32,000. UMB Bank n.a. raised its stake in shares of ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of ITT in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ITT. Stifel Nicolaus lifted their price target on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. Robert W. Baird lowered 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. The Goldman Sachs Group lifted their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, KeyCorp increased their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, ITT currently has an average rating of “Moderate Buy” and an average price target of $166.75.

ITT Stock Up 0.8 %

ITT stock opened at $143.68 on Friday. ITT Inc. has a 52 week low of $113.70 and a 52 week high of $161.13. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The firm has a 50-day simple moving average of $150.76 and a 200-day simple moving average of $141.02. The stock has a market capitalization of $11.71 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.99 and a beta of 1.40.

ITT (NYSE:ITT) last posted its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. The company had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. Equities analysts forecast that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

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 is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. ITT’s payout ratio is currently 21.67%.

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.