Blue Trust Inc. Raises Position in ITT Inc. (NYSE:ITT)

Blue Trust Inc. raised its position in shares of ITT Inc. (NYSE:ITT) by 252.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,491 shares of the conglomerate’s stock after purchasing an additional 1,068 shares during the period. Blue Trust Inc.’s holdings in ITT were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Covea Finance grew its stake in shares of ITT by 18.7% during the 3rd quarter. Covea Finance now owns 254,800 shares of the conglomerate’s stock worth $38,095,000 after acquiring an additional 40,200 shares during the period. UMB Bank n.a. boosted its position in ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares during the period. CWM LLC increased its stake in shares of ITT by 191.4% in the third quarter. CWM LLC now owns 3,879 shares of the conglomerate’s stock worth $580,000 after purchasing an additional 2,548 shares in the last quarter. Fulton Bank N.A. raised its position in shares of ITT by 25.0% in the third quarter. Fulton Bank N.A. now owns 3,242 shares of the conglomerate’s stock valued at $485,000 after purchasing an additional 648 shares during the period. Finally, Everpar Advisors LLC purchased a new stake in shares of ITT during the 3rd quarter valued at approximately $207,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

Shares of ITT opened at $143.78 on Friday. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $153.99. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The company has a market cap of $11.75 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.40. The stock has a 50-day moving average price of $142.17 and a 200-day moving average price of $135.74.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. The business had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.33 EPS. As a group, equities analysts forecast that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.319 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. ITT’s payout ratio is 24.43%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ITT shares. Stifel Nicolaus lifted their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Cowen boosted their price objective on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. KeyCorp raised their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $155.25.

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.