ITT Inc. (NYSE:ITT) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of ITT Inc. (NYSE:ITT - Free Report) by 15.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 306,516 shares of the conglomerate's stock after buying an additional 40,860 shares during the period. Victory Capital Management Inc. owned approximately 0.38% of ITT worth $45,827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Select Equity Group L.P. increased its holdings 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 purchasing an additional 351,206 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 last quarter. Bank of New York Mellon Corp increased its position in shares of ITT by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate's stock valued at $106,961,000 after buying an additional 3,370 shares in the last quarter. Millennium Management LLC raised its stake 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 buying an additional 262,470 shares during the last quarter. Finally, Mawer Investment Management Ltd. purchased a new stake in shares of ITT in the 2nd quarter worth about $49,043,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ITT shares. KeyCorp increased their target price on ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a report on Monday, October 14th. The Goldman Sachs Group increased their price target 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 decreased their target price on ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. TD Cowen increased their price target on ITT from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, October 31st. 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 note on Wednesday, October 16th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, ITT presently has a consensus rating of "Buy" and an average price target of $157.78.

ITT Stock Performance

ITT traded up $0.94 during trading on Friday, reaching $152.60. 458,994 shares of the company were exchanged, compared to its average volume of 385,350. ITT Inc. has a 52 week low of $107.01 and a 52 week high of $155.52. 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 firm has a 50 day moving average of $146.09 and a 200 day moving average of $137.84. The stock has a market cap of $12.44 billion, a P/E ratio of 26.04, a PEG ratio of 1.99 and a beta of 1.41.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) 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 company 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 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 forecast that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

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