Entropy Technologies LP boosted its holdings in ITT Inc. (NYSE:ITT - Free Report) by 83.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,489 shares of the conglomerate's stock after purchasing an additional 6,600 shares during the quarter. Entropy Technologies LP's holdings in ITT were worth $2,166,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Eagle Bluffs Wealth Management LLC grew its stake in shares of ITT by 0.4% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate's stock worth $2,457,000 after acquiring an additional 82 shares during the last quarter. Round Rock Advisors LLC raised its holdings in ITT by 0.4% in the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate's stock worth $3,038,000 after buying an additional 90 shares during the last quarter. Tectonic Advisors LLC lifted its stake in shares of ITT by 3.3% in the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate's stock worth $437,000 after buying an additional 93 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of ITT by 5.9% during 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 during the last quarter. Finally, Quent Capital LLC raised its holdings in ITT by 53.9% in the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate's stock worth $44,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 91.59% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on ITT shares. TD Cowen lifted their target price on ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Robert W. Baird lowered their target price on shares of ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of ITT from $157.00 to $167.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on shares of ITT from $150.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, KeyCorp lifted their target price on shares of ITT from $155.00 to $164.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $157.78.
Check Out Our Latest Stock Analysis on ITT
ITT Price Performance
Shares of ITT traded up $0.15 during mid-day trading on Wednesday, reaching $153.44. The stock had a trading volume of 386,925 shares, compared to its average volume of 384,961. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.99 and a beta of 1.41. ITT Inc. has a 12 month low of $104.26 and a 12 month high of $155.52. The business has a fifty day moving average of $144.78 and a 200 day moving average of $137.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.
ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. During the same quarter in the prior year, the business posted $1.37 EPS. ITT's revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict 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 given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, November 29th. ITT's payout ratio is currently 21.84%.
ITT Profile
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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.
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