Capital Performance Advisors LLP Invests $26,000 in ITT Inc. (NYSE:ITT)

Capital Performance Advisors LLP bought a new stake in ITT Inc. (NYSE:ITT) during the third quarter, according to its most recent filing with the SEC. The firm bought 172 shares of the conglomerate’s stock, valued at approximately $26,000.

Other institutional investors have also recently bought and sold shares of the company. Eagle Bluffs Wealth Management LLC grew its position in shares of ITT by 0.4% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock valued at $2,457,000 after purchasing an additional 82 shares during the last quarter. Tectonic Advisors LLC boosted its stake in ITT by 3.3% during the 3rd quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after purchasing an additional 93 shares during the period. AE Wealth Management LLC grew its holdings in ITT by 5.9% in the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock valued at $233,000 after buying an additional 100 shares during the last quarter. Quent Capital LLC increased its position in ITT by 53.9% in the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after buying an additional 103 shares during the period. Finally, HBK Sorce Advisory LLC lifted its holdings in shares of ITT by 4.7% during the first quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock worth $314,000 after buying an additional 104 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Trading Up 1.5 %

Shares of ITT stock opened at $155.37 on Tuesday. ITT Inc. has a 12-month low of $102.31 and a 12-month high of $155.52. The stock has a market capitalization of $12.66 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. The company has a 50-day simple moving average of $144.37 and a 200 day simple moving average of $137.28. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. ITT’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. Research analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is presently 21.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen increased their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. KeyCorp boosted 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. Finally, The Goldman Sachs Group raised their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $157.78.

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.