Erste Asset Management GmbH Purchases New Holdings in ITT Inc. (NYSE:ITT)

Erste Asset Management GmbH purchased a new position in shares of ITT Inc. (NYSE:ITT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 47,228 shares of the conglomerate’s stock, valued at approximately $7,075,000. Erste Asset Management GmbH owned about 0.06% of ITT as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITT. Captrust Financial Advisors grew its stake in shares of ITT by 5.7% in the third quarter. Captrust Financial Advisors now owns 12,293 shares of the conglomerate’s stock valued at $1,838,000 after buying an additional 665 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ITT by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 229,427 shares of the conglomerate’s stock valued at $34,302,000 after acquiring an additional 3,415 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ITT by 24.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,185 shares of the conglomerate’s stock valued at $3,616,000 after acquiring an additional 4,683 shares during the period. Townsquare Capital LLC increased its stake in shares of ITT by 21.1% during the 3rd quarter. Townsquare Capital LLC now owns 2,177 shares of the conglomerate’s stock worth $325,000 after purchasing an additional 380 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of ITT in the 3rd quarter valued at about $57,000. Institutional investors own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com downgraded ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Stifel Nicolaus boosted their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp increased their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird dropped their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, ITT currently has a consensus rating of “Moderate Buy” and an average target price of $161.88.

ITT Stock Up 0.3 %

ITT stock opened at $156.12 on Monday. The business’s fifty day moving average price is $149.91 and its two-hundred day moving average price is $139.41. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 2.02 and a beta of 1.41. ITT Inc. has a fifty-two week low of $107.10 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

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

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. 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.