Ballentine Partners LLC Takes $218,000 Position in ITT Inc. (NYSE:ITT)

Ballentine Partners LLC purchased a new stake in shares of ITT Inc. (NYSE:ITT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,459 shares of the conglomerate’s stock, valued at approximately $218,000.

A number of other large investors also recently made changes to their positions in ITT. Lynx Investment Advisory bought a new stake in ITT in the second quarter worth about $27,000. Headlands Technologies LLC bought a new stake in shares of ITT in the second quarter valued at approximately $32,000. UMB Bank n.a. raised its position in shares of ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of ITT in the second quarter valued at approximately $36,000. Finally, Quent Capital LLC raised its position in shares of ITT by 53.9% in the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 103 shares during the period. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

ITT Stock Up 1.1 %

Shares of NYSE ITT opened at $146.06 on Wednesday. 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 12 month low of $91.94 and a 12 month high of $153.99. The firm has a market capitalization of $11.93 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.92 and a beta of 1.40. The firm has a fifty day simple moving average of $142.60 and a two-hundred day simple moving average of $136.03.

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

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is presently 24.90%.

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.