Harbor Capital Advisors Inc. Raises Stake in ITT Inc. (NYSE:ITT)

Harbor Capital Advisors Inc. raised its stake in shares of ITT Inc. (NYSE:ITT - Free Report) by 108.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 46,689 shares of the conglomerate's stock after purchasing an additional 24,282 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.06% of ITT worth $6,980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. purchased a new stake in ITT in the 2nd quarter valued at about $49,043,000. Select Equity Group L.P. boosted its position 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 worth $431,512,000 after purchasing an additional 351,206 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in ITT by 73.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate's stock valued at $92,751,000 after purchasing an additional 288,671 shares during the period. Millennium Management LLC increased its position in shares of ITT by 200.4% during the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate's stock valued at $50,823,000 after purchasing an additional 262,470 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate's stock worth $31,717,000 after purchasing an additional 131,708 shares during the period. 91.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ITT shares. Robert W. Baird reduced their target price on shares of ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a research report on Wednesday. The Goldman Sachs Group boosted their target price on ITT from $150.00 to $166.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Stifel Nicolaus increased their price target on ITT from $157.00 to $167.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday. Finally, KeyCorp increased 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 company presently has an average rating of "Buy" and an average price target of $157.78.

ITT Price Performance

NYSE:ITT traded up $0.41 during trading hours on Friday, hitting $140.53. The stock had a trading volume of 455,693 shares, compared to its average volume of 415,286. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.86 and a beta of 1.41. ITT Inc. has a one year low of $95.53 and a one year high of $153.99. The company has a 50 day simple moving average of $142.94 and a two-hundred day simple moving average of $136.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.10.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $884.50 million. During the same period in the previous year, the business earned $1.37 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Research analysts forecast that ITT Inc. will post 5.82 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.91%. ITT's payout ratio is presently 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.