UMB Bank n.a. Boosts Holdings in ITT Inc. (NYSE:ITT)

UMB Bank n.a. raised its position in shares of ITT Inc. (NYSE:ITT) by 95.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 464 shares of the conglomerate’s stock after purchasing an additional 227 shares during the quarter. UMB Bank n.a.’s holdings in ITT were worth $66,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ITT. Eagle Asset Management Inc. bought a new stake in shares of ITT during the third quarter valued at approximately $67,503,000. Select Equity Group L.P. boosted its stake in ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after purchasing an additional 351,206 shares during the last quarter. Millennium Management LLC increased its holdings in shares of ITT by 200.4% in the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after purchasing an additional 262,470 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of 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, Point72 Asset Management L.P. boosted its position in shares of ITT by 160.2% during the second quarter. Point72 Asset Management L.P. now owns 106,926 shares of the conglomerate’s stock valued at $13,813,000 after buying an additional 65,826 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITT has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday. KeyCorp increased their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group lifted their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen raised their price target on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird reduced their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.13.

ITT Price Performance

NYSE ITT opened at $151.30 on Friday. The business’s fifty day moving average is $149.38 and its 200 day moving average is $143.97. ITT Inc. has a fifty-two week low of $118.58 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The company has a market capitalization of $12.33 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41.

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

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.319 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. ITT’s dividend payout ratio (DPR) is presently 21.84%.

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.