PNC Financial Services Group Inc. Boosts Stock Holdings in ITT Inc. (NYSE:ITT)

PNC Financial Services Group Inc. boosted its stake in ITT Inc. (NYSE:ITT) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 33,439 shares of the conglomerate’s stock after buying an additional 178 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ITT were worth $4,999,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Algert Global LLC purchased a new position in ITT during the 2nd quarter valued at approximately $1,158,000. Harbor Capital Advisors Inc. grew its holdings in shares of ITT by 242.6% in the second quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock valued at $2,895,000 after purchasing an additional 15,866 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in ITT in the first quarter worth $1,388,000. AQR Capital Management LLC raised its stake in ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after purchasing an additional 30,320 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

ITT has been the topic of a number of research reports. TD Cowen boosted their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus lifted 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. The Goldman Sachs Group increased their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, KeyCorp increased their target price 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. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $161.88.

ITT Price Performance

ITT stock opened at $158.38 on Friday. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. The firm has a 50-day moving average of $148.28 and a two-hundred day moving average of $138.71. ITT Inc. has a 1 year low of $107.01 and a 1 year high of $158.56. 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 data on Tuesday, October 29th. The conglomerate reported $1.46 EPS 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 company had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the business posted $1.37 EPS. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 0.81%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 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.