Boston Trust Walden Corp Takes $209,000 Position in ITT Inc. (NYSE:ITT)

Boston Trust Walden Corp bought a new stake in ITT Inc. (NYSE:ITT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,400 shares of the conglomerate’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC bought a new stake in ITT in the 3rd quarter valued at about $218,000. Tectonic Advisors LLC increased its position in ITT by 3.3% in the 3rd quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after buying an additional 93 shares in the last quarter. Assenagon Asset Management S.A. increased its position in ITT by 9.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 16,400 shares of the conglomerate’s stock valued at $2,452,000 after buying an additional 1,372 shares in the last quarter. International Assets Investment Management LLC increased its position in ITT by 16,832.5% in the 3rd quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after buying an additional 13,971 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in ITT by 74.5% in the 3rd quarter. Private Advisor Group LLC now owns 8,043 shares of the conglomerate’s stock valued at $1,202,000 after buying an additional 3,435 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

ITT Stock Performance

ITT stock opened at $143.78 on Monday. The firm has a market cap of $11.75 billion, a PE ratio of 27.44, a P/E/G ratio of 1.92 and a beta of 1.40. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $142.17 and a 200-day moving average of $135.81. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $153.99.

ITT (NYSE:ITT) last released its earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.03. The company had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. ITT’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. As a group, sell-side analysts expect that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Tuesday, September 3rd. ITT’s dividend payout ratio is presently 24.43%.

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.