ITT Inc. (NYSE:ITT) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 30.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,957 shares of the conglomerate's stock after acquiring an additional 18,045 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of ITT worth $11,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Select Equity Group L.P. grew its stake in shares of ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate's stock valued at $431,512,000 after buying an additional 351,206 shares during the period. Dimensional Fund Advisors LP raised its position in ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate's stock valued at $123,338,000 after purchasing an additional 50,329 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of ITT by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate's stock worth $106,961,000 after purchasing an additional 3,370 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 worth $50,823,000 after purchasing an additional 262,470 shares during the last quarter. Finally, Mawer Investment Management Ltd. purchased a new stake in ITT in the 2nd quarter valued at about $49,043,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Stock Up 1.9 %

NYSE ITT traded up $3.02 during trading hours on Friday, hitting $158.48. 314,050 shares of the company were exchanged, compared to its average volume of 384,383. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.98 and a beta of 1.41. The company has a 50 day moving average of $147.82 and a two-hundred day moving average of $138.49. ITT Inc. has a 52-week low of $107.01 and a 52-week high of $158.56.

ITT (NYSE:ITT - Get Free Report) last released its 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. The firm had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. During the same period in the prior year, the firm earned $1.37 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.319 per share. 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 0.81%. ITT's payout ratio is currently 21.67%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ITT shares. The Goldman Sachs Group increased their target price 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 target price on shares of ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. KeyCorp upped their price target on ITT from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. TD Cowen lifted their price objective on ITT from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price objective on ITT from $157.00 to $167.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $161.88.

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.