Eagle Asset Management Inc. Purchases Shares of 441,053 ITT Inc. (NYSE:ITT)

Eagle Asset Management Inc. purchased a new stake in ITT Inc. (NYSE:ITT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 441,053 shares of the conglomerate's stock, valued at approximately $67,503,000. Eagle Asset Management Inc. owned 0.54% of ITT as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mawer Investment Management Ltd. bought a new stake in shares of ITT in the second quarter worth about $49,043,000. Select Equity Group L.P. grew its position in shares of ITT by 11.7% in 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 period. Millennium Management LLC raised its holdings in ITT by 200.4% during the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate's stock worth $50,823,000 after buying an additional 262,470 shares during the period. AQR Capital Management LLC lifted its stake in ITT by 115.6% in the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate's stock valued at $31,717,000 after buying an additional 131,708 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in ITT in the second quarter valued at approximately $9,936,000. Institutional investors own 91.59% of the company's stock.

ITT Stock Up 1.4 %

ITT stock traded up $2.23 during mid-day trading on Friday, reaching $157.69. The company had a trading volume of 73,486 shares, compared to its average volume of 383,323. The company has a market capitalization of $12.85 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.98 and a beta of 1.41. ITT Inc. has a 52 week low of $107.01 and a 52 week high of $157.91. The stock has a 50 day simple moving average of $147.82 and a two-hundred day simple moving average of $138.49. 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 - Get Free Report) last released its 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 business had revenue of $885.20 million during the quarter, compared to analysts' expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm's revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $1.37 earnings per share. As a group, equities analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, November 29th. ITT's payout ratio is currently 21.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ITT shares. The Goldman Sachs Group raised their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. TD Cowen lifted their price target on ITT from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. KeyCorp upped their price objective on 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 target price on ITT from $157.00 to $167.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird reduced their price target on ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $161.88.

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.