Algert Global LLC Raises Stake in ITT Inc. (NYSE:ITT)

Algert Global LLC lifted its stake in ITT Inc. (NYSE:ITT) by 101.2% in the 3rd quarter, Holdings Channel reports. The firm owned 18,034 shares of the conglomerate’s stock after purchasing an additional 9,070 shares during the quarter. Algert Global LLC’s holdings in ITT were worth $2,696,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ITT. Eagle Bluffs Wealth Management LLC increased its holdings in ITT by 0.4% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock valued at $2,457,000 after buying an additional 82 shares in the last quarter. CIBC Asset Management Inc raised its holdings in ITT by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares during the last quarter. Round Rock Advisors LLC boosted its position in ITT by 0.4% during the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after purchasing an additional 90 shares in the last quarter. Tectonic Advisors LLC grew its holdings in ITT by 3.3% in the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after purchasing an additional 93 shares during the last quarter. Finally, AE Wealth Management LLC increased its position in shares of ITT by 5.9% in the second quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock valued at $233,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Down 0.6 %

Shares of NYSE:ITT opened at $158.68 on Wednesday. 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 firm has a market cap of $12.93 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.05 and a beta of 1.41. The stock’s 50-day moving average price is $148.76 and its two-hundred day moving average price is $138.88. ITT Inc. has a 12-month low of $107.01 and a 12-month high of $161.13.

ITT (NYSE:ITT) last released its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same period last year, the company earned $1.37 earnings per share. The company’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 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.80%. ITT’s dividend payout ratio is presently 21.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. 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 report on Thursday, October 10th. TD Cowen increased their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird lowered their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, KeyCorp boosted their price target on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average 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.