ITT Inc. (NYSE:ITT) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of ITT Inc. (NYSE:ITT) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,472 shares of the conglomerate’s stock after purchasing an additional 2,705 shares during the period. Envestnet Asset Management Inc. owned approximately 0.13% of ITT worth $13,883,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ITT. Oppenheimer Asset Management Inc. increased its stake in ITT by 14.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,562 shares of the conglomerate’s stock valued at $1,494,000 after buying an additional 1,468 shares during the period. Vest Financial LLC raised its holdings in ITT by 31.7% during the second quarter. Vest Financial LLC now owns 8,533 shares of the conglomerate’s stock worth $1,102,000 after purchasing an additional 2,055 shares in the last quarter. American Century Companies Inc. lifted its position in ITT by 28.5% in the second quarter. American Century Companies Inc. now owns 50,675 shares of the conglomerate’s stock worth $6,546,000 after purchasing an additional 11,236 shares during the period. Headlands Technologies LLC bought a new position in ITT during the 2nd quarter valued at $32,000. Finally, Mawer Investment Management Ltd. acquired a new position in shares of ITT during the 2nd quarter valued at $49,043,000. 91.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ITT has been the subject of several research analyst reports. KeyCorp upped their price objective on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price objective on shares of ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, TD Cowen increased their target price on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT presently has an average rating of “Buy” and a consensus target price of $151.00.

ITT Price Performance

ITT stock opened at $147.70 on Wednesday. The firm has a 50-day moving average of $136.35 and a two-hundred day moving average of $133.05. The firm has a market capitalization of $12.16 billion, a PE ratio of 28.96, a P/E/G ratio of 1.71 and a beta of 1.40. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. ITT Inc. has a one year low of $91.94 and a one year high of $149.65.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. During the same quarter last year, the business posted $1.33 EPS. The company’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, September 3rd. ITT’s payout ratio is 24.90%.

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.