Stifel Financial Corp Buys 221 Shares of ITT Inc. (NYSE:ITT)

Stifel Financial Corp boosted its stake in ITT Inc. (NYSE:ITT) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,455 shares of the conglomerate’s stock after purchasing an additional 221 shares during the period. Stifel Financial Corp’s holdings in ITT were worth $3,208,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of ITT during the third quarter worth about $26,000. UMB Bank n.a. boosted its position in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after buying an additional 180 shares during the period. Headlands Technologies LLC bought a new stake in ITT during the 2nd quarter worth approximately $32,000. Brown Brothers Harriman & Co. acquired a new position in ITT in the 2nd quarter valued at approximately $36,000. Finally, Quent Capital LLC raised its stake in shares of ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Performance

NYSE:ITT opened at $149.06 on Wednesday. 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 Inc. has a twelve month low of $113.70 and a twelve month high of $161.13. The company has a fifty day moving average of $151.25 and a 200-day moving average of $140.90. The firm has a market capitalization of $12.15 billion, a P/E ratio of 25.44, a P/E/G ratio of 1.99 and a beta of 1.40.

ITT (NYSE:ITT) last posted its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million during 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%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 earnings per share. As a group, sell-side analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. ITT’s dividend payout ratio is 21.67%.

Wall Street Analyst Weigh In

ITT has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a research note on Tuesday. Wolfe Research started coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. KeyCorp upped their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Robert W. Baird lowered their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.75.

ITT 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.