Concentric Capital Strategies LP Takes $1.80 Million Position in ITT Inc. (NYSE:ITT)

Concentric Capital Strategies LP acquired a new position in shares of ITT Inc. (NYSE:ITT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,063 shares of the conglomerate's stock, valued at approximately $1,804,000.

A number of other large investors also recently added to or reduced their stakes in ITT. Select Equity Group L.P. lifted its holdings in ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate's stock valued at $431,512,000 after buying an additional 351,206 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of ITT by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate's stock worth $123,338,000 after purchasing an additional 50,329 shares during the period. Bank of New York Mellon Corp increased its holdings in ITT by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate's stock valued at $106,961,000 after purchasing an additional 3,370 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in ITT by 4.3% in the third quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate's stock valued at $100,100,000 after buying an additional 27,885 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in ITT during the third quarter worth about $67,503,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. KeyCorp increased their price target on shares of ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. TD Cowen boosted their target price on ITT from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on ITT from $150.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, StockNews.com lowered shares of ITT from a "buy" rating to a "hold" rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.88.

ITT Stock Down 0.1 %

NYSE:ITT traded down $0.13 on Tuesday, hitting $156.00. 59,710 shares of the company's stock were exchanged, compared to its average volume of 381,323. The firm has a 50-day moving average price of $150.11 and a 200-day moving average price of $139.53. ITT Inc. has a 52 week low of $109.36 and a 52 week high of $161.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The company has a market cap of $12.72 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS 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 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. As a group, analysts expect that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, November 29th. ITT's dividend payout ratio (DPR) is currently 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.