Van ECK Associates Corp Has $7.51 Million Stake in ITT Inc. (NYSE:ITT)

Van ECK Associates Corp lifted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 40.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,996 shares of the conglomerate's stock after buying an additional 14,857 shares during the period. Van ECK Associates Corp owned about 0.06% of ITT worth $7,513,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Lynx Investment Advisory acquired a new position in shares of ITT during the 2nd quarter valued at about $27,000. Headlands Technologies LLC purchased a new position in shares of ITT in the second quarter valued at $32,000. UMB Bank n.a. grew its holdings in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate's stock valued at $35,000 after purchasing an additional 180 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in ITT during the 2nd quarter worth $36,000. Finally, Quent Capital LLC lifted 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 buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ITT shares. Stifel Nicolaus increased their price target on ITT from $157.00 to $167.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. KeyCorp raised their price target 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. TD Cowen upped 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. 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. Finally, Robert W. Baird cut 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. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT presently has a consensus rating of "Buy" and an average target price of $157.78.

ITT Stock Down 0.3 %

Shares of ITT stock traded down $0.45 on Thursday, reaching $151.79. 113,209 shares of the company were exchanged, compared to its average volume of 386,002. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.87 and a beta of 1.41. 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 Inc. has a one year low of $100.31 and a one year high of $154.35. The company has a 50-day moving average of $143.48 and a 200 day moving average of $136.71.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share 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 firm had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter in the previous year, the business earned $1.37 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, November 29th. ITT's dividend payout ratio (DPR) is 21.84%.

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.