Janney Montgomery Scott LLC Raises Stake in ITT Inc. (NYSE:ITT)

Janney Montgomery Scott LLC boosted its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,000 shares of the conglomerate's stock after purchasing an additional 2,109 shares during the period. Janney Montgomery Scott LLC's holdings in ITT were worth $4,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITT. Eagle Asset Management Inc. purchased a new position in ITT during the third quarter valued at $67,503,000. Erste Asset Management GmbH purchased a new position in ITT during the third quarter valued at $7,075,000. Polar Asset Management Partners Inc. grew its stake in ITT by 68.9% during the third quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate's stock valued at $16,596,000 after acquiring an additional 45,300 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of ITT by 15.4% in the 3rd quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate's stock worth $45,827,000 after buying an additional 40,860 shares in the last quarter. Finally, Covea Finance grew its stake in shares of ITT by 18.7% in the 3rd quarter. Covea Finance now owns 254,800 shares of the conglomerate's stock worth $38,095,000 after buying an additional 40,200 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

ITT Price Performance

NYSE:ITT traded up $4.72 during trading hours on Thursday, reaching $151.89. 283,322 shares of the company were exchanged, compared to its average volume of 337,906. 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 stock's 50-day moving average is $149.00 and its 200-day moving average is $144.40. The firm has a market cap of $12.38 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. ITT Inc. has a twelve month low of $118.58 and a twelve month high of $161.13.

ITT (NYSE:ITT - Get Free Report) last released its 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 net margin of 13.67% and a return on equity of 17.98%. 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 firm earned $1.37 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Robert W. Baird dropped their price objective on shares of ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a "peer perform" rating for the company. Citigroup lowered their target price on shares of ITT from $183.00 to $181.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $167.13.

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.