ITT Inc. (NYSE:ITT) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of ITT Inc. (NYSE:ITT) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,409 shares of the conglomerate’s stock after acquiring an additional 87 shares during the quarter. CIBC Asset Management Inc’s holdings in ITT were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. KBC Group NV raised its stake in ITT by 11.9% during the 3rd quarter. KBC Group NV now owns 2,015 shares of the conglomerate’s stock valued at $301,000 after purchasing an additional 215 shares during the period. Pier 88 Investment Partners LLC raised its position in ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock valued at $4,161,000 after buying an additional 20,270 shares during the period. Victory Capital Management Inc. lifted its stake in ITT by 15.4% in the 3rd quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock worth $45,827,000 after acquiring an additional 40,860 shares in the last quarter. Aigen Investment Management LP acquired a new stake in ITT during the 3rd quarter worth about $328,000. Finally, Entropy Technologies LP grew its stake in ITT by 83.7% during the 3rd quarter. Entropy Technologies LP now owns 14,489 shares of the conglomerate’s stock valued at $2,166,000 after acquiring an additional 6,600 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Price Performance

Shares of NYSE:ITT opened at $155.46 on Friday. The stock has a market capitalization of $12.67 billion, a P/E ratio of 26.53, a P/E/G ratio of 1.98 and a beta of 1.41. The business has a 50-day moving average of $147.82 and a two-hundred day moving average of $138.49. ITT Inc. has a fifty-two week low of $107.01 and a fifty-two week high of $156.00. 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 posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. During the same period in the previous year, the company earned $1.37 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen lifted 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. Robert W. Baird dropped their price target 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 increased their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, KeyCorp boosted their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $161.88.

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.