BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its holdings in ITT Inc. (NYSE:ITT - Free Report) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 608,764 shares of the conglomerate's stock after selling 32,829 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.75% of ITT worth $91,017,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in ITT in the third quarter valued at $26,000. Lynx Investment Advisory bought a new position in shares of ITT during the second quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new position in shares of ITT during the second quarter valued at approximately $32,000. UMB Bank n.a. boosted its position in shares of ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate's stock worth $35,000 after purchasing an additional 180 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of ITT in the 2nd quarter worth approximately $36,000. 91.59% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. KeyCorp upped their price target on shares of ITT from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. TD Cowen raised their price target on shares of ITT from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of 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 price target on ITT from $150.00 to $166.00 and gave the company a "buy" rating in a report on Thursday, October 10th. 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. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT currently has an average rating of "Buy" and an average target price of $161.88.
Read Our Latest Report on ITT
ITT Stock Down 0.5 %
Shares of ITT opened at $152.20 on Thursday. 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 company has a market capitalization of $12.41 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The business's 50 day moving average is $147.38 and its 200 day moving average is $138.38. ITT Inc. has a 12-month low of $107.01 and a 12-month high of $155.52.
ITT (NYSE:ITT - Get Free Report) last released 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 business had revenue of $885.20 million during 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 firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. Research analysts expect that ITT Inc. will post 5.84 earnings per share for the current fiscal 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 $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, November 29th. ITT's payout ratio is 21.84%.
ITT Company Profile
(
Free Report)
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.
Further Reading
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