ITT Inc. (NYSE:ITT) Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC increased its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 268.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,830 shares of the conglomerate's stock after buying an additional 20,270 shares during the period. ITT comprises about 0.9% of Pier 88 Investment Partners LLC's portfolio, making the stock its 26th biggest position. Pier 88 Investment Partners LLC's holdings in ITT were worth $4,161,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Mawer Investment Management Ltd. acquired a new position in ITT in the second quarter valued at approximately $49,043,000. Select Equity Group L.P. boosted its holdings in shares of ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate's stock valued at $431,512,000 after acquiring an additional 351,206 shares during the period. Millennium Management LLC boosted its holdings in shares of ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate's stock valued at $50,823,000 after acquiring an additional 262,470 shares during the period. AQR Capital Management LLC boosted its holdings in shares of ITT by 115.6% in the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate's stock valued at $31,717,000 after acquiring an additional 131,708 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of ITT by 12.5% in the first quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate's stock valued at $98,434,000 after acquiring an additional 80,652 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Price Performance

Shares of NYSE:ITT traded down $1.84 during midday trading on Thursday, hitting $151.75. 215,178 shares of the stock were exchanged, compared to its average volume of 385,018. The stock has a market cap of $12.37 billion, a P/E ratio of 25.90, a PEG ratio of 1.99 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 twelve month low of $107.00 and a twelve month high of $155.52. The company has a 50 day moving average price of $145.62 and a 200-day moving average price of $137.64.

ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same quarter in the previous year, the company posted $1.37 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

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 paid a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, November 29th. ITT's dividend payout ratio is currently 21.67%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Cowen increased their price objective on 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 increased their price target on ITT from $150.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. KeyCorp lifted their price objective on shares of ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Robert W. Baird lowered their price objective on shares of ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price objective on shares of ITT from $157.00 to $167.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $157.78.

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.