Zurcher Kantonalbank Zurich Cantonalbank Raises Position in ITT Inc. (NYSE:ITT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ITT Inc. (NYSE:ITT - Free Report) by 24.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,185 shares of the conglomerate's stock after buying an additional 4,683 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ITT were worth $3,616,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Eagle Bluffs Wealth Management LLC lifted its stake in ITT by 0.4% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate's stock worth $2,457,000 after purchasing an additional 82 shares during the last quarter. CIBC Asset Management Inc lifted its position in ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate's stock worth $360,000 after buying an additional 87 shares during the last quarter. Round Rock Advisors LLC boosted its stake 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 in the last quarter. Tectonic Advisors LLC grew its position in ITT by 3.3% during the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate's stock valued at $437,000 after acquiring an additional 93 shares during the last quarter. Finally, AE Wealth Management LLC raised its stake 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 worth $233,000 after acquiring an additional 100 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

ITT Stock Down 0.0 %

ITT stock traded down $0.04 during trading hours on Tuesday, hitting $156.09. 238,258 shares of the stock traded hands, compared to its average volume of 382,124. ITT Inc. has a one year low of $109.36 and a one year high of $161.13. The company has a market cap of $12.72 billion, a PE ratio of 26.64, a PEG ratio of 2.02 and a beta of 1.40. The firm's 50-day moving average price is $150.11 and its two-hundred day moving average price is $139.53. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS 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 analyst estimates of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 earnings per share. On average, research analysts forecast that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. ITT's dividend payout ratio is currently 21.84%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ITT. 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. Stifel Nicolaus boosted their price objective on 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 raised their target price on shares of ITT from $150.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. KeyCorp upped their price target on shares of ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Finally, Robert W. Baird cut their price target on shares of ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.