441,053 Shares in ITT Inc. (NYSE:ITT) Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. acquired a new position in shares of ITT Inc. (NYSE:ITT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 441,053 shares of the conglomerate’s stock, valued at approximately $67,503,000. Eagle Asset Management Inc. owned 0.54% of ITT at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in ITT by 16.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,380 shares of the conglomerate’s stock worth $1,257,000 after purchasing an additional 1,346 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of ITT by 17.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,472 shares of the conglomerate’s stock valued at $336,000 after buying an additional 363 shares during the period. CANADA LIFE ASSURANCE Co grew its position in ITT by 1.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 51,684 shares of the conglomerate’s stock worth $7,028,000 after buying an additional 859 shares in the last quarter. CreativeOne Wealth LLC bought a new position in ITT during the 1st quarter worth $241,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in ITT by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,408 shares of the conglomerate’s stock valued at $6,313,000 after acquiring an additional 2,637 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

ITT has been the topic of several analyst reports. Robert W. Baird reduced their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. TD Cowen boosted their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. KeyCorp increased their price target 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. Stifel Nicolaus boosted 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. Finally, The Goldman Sachs Group lifted their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $161.88.

ITT Trading Up 2.1 %

NYSE:ITT opened at $155.46 on Friday. The company has a market cap of $12.67 billion, a P/E ratio of 26.53, a P/E/G ratio of 1.98 and a beta of 1.41. ITT Inc. has a 1 year low of $107.01 and a 1 year high of $156.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The stock’s fifty day moving average price is $147.82 and its two-hundred day moving average price is $138.49.

ITT (NYSE:ITT) last announced 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. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same period in the prior year, the company earned $1.37 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts expect that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is currently 21.84%.

About ITT

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.