Private Trust Co. NA Purchases 209 Shares of ITT Inc. (NYSE:ITT)

Private Trust Co. NA boosted its position in ITT Inc. (NYSE:ITT) by 232.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 299 shares of the conglomerate’s stock after acquiring an additional 209 shares during the period. Private Trust Co. NA’s holdings in ITT were worth $45,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of ITT by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 46,408 shares of the conglomerate’s stock worth $6,313,000 after purchasing an additional 2,637 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of ITT by 5.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,716 shares of the conglomerate’s stock valued at $369,000 after buying an additional 144 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of ITT by 71.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 145 shares in the last quarter. Lynx Investment Advisory purchased a new stake in ITT in the second quarter worth $27,000. Finally, Fulton Bank N.A. boosted its holdings in ITT by 15.3% in the second quarter. Fulton Bank N.A. now owns 2,594 shares of the conglomerate’s stock valued at $335,000 after acquiring an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.5 %

ITT stock opened at $156.12 on Friday. ITT Inc. has a 12 month low of $107.10 and a 12 month high of $161.13. 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 business’s fifty day simple moving average is $149.91 and its two-hundred day simple moving average is $139.39. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. The company had revenue of $885.20 million for 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%. ITT’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS. As a group, equities analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

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 paid a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.82%. ITT’s dividend payout ratio is 21.84%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ITT shares. KeyCorp raised their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Stifel Nicolaus lifted their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com lowered ITT from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, TD Cowen increased their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.