KBC Group NV Acquires 215 Shares of ITT Inc. (NYSE:ITT)

KBC Group NV boosted its holdings in ITT Inc. (NYSE:ITT) by 11.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,015 shares of the conglomerate’s stock after purchasing an additional 215 shares during the quarter. KBC Group NV’s holdings in ITT were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ITT. Capital Performance Advisors LLP bought a new position in shares of ITT during the third quarter worth $26,000. Lynx Investment Advisory bought a new position in shares of ITT during the 2nd quarter valued at about $27,000. Headlands Technologies LLC purchased a new position in shares of ITT during the second quarter valued at about $32,000. UMB Bank n.a. increased its holdings in shares of ITT by 315.8% in 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 last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of ITT in the second quarter worth about $36,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITT has been the subject of several research analyst reports. TD Cowen raised their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their price target on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird reduced their target price 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. Finally, KeyCorp increased their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $161.88.

ITT Price Performance

ITT stock opened at $152.94 on Wednesday. ITT Inc. has a 12-month low of $107.01 and a 12-month high of $155.52. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $146.97 and a 200-day moving average price of $138.28. The firm has a market capitalization of $12.47 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The business had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 earnings per share. As a group, equities research analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio (DPR) is presently 21.84%.

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.