ITT Inc. (NYSE:ITT) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC raised its holdings in ITT Inc. (NYSE:ITT) by 9.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 114,136 shares of the conglomerate’s stock after purchasing an additional 9,839 shares during the period. Fisher Asset Management LLC owned about 0.14% of ITT worth $17,064,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Eagle Asset Management Inc. purchased a new stake in ITT in the 3rd quarter worth $67,503,000. Mawer Investment Management Ltd. purchased a new stake in shares of ITT during the second quarter worth about $49,043,000. Select Equity Group L.P. raised its position in shares of ITT by 11.7% during the 2nd 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. Millennium Management LLC lifted its stake in ITT by 200.4% in the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after buying an additional 262,470 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in ITT by 115.6% in the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after buying an additional 131,708 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Performance

NYSE ITT opened at $155.60 on Thursday. The stock has a market cap of $12.68 billion, a PE ratio of 26.55, a P/E/G ratio of 2.07 and a beta of 1.41. ITT Inc. has a twelve month low of $107.01 and a twelve month high of $161.13. The stock has a fifty day simple moving average of $149.15 and a 200-day simple moving average of $139.03. 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 (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 EPS. Equities analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

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 paid a $0.319 dividend. 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 0.82%. ITT’s payout ratio is presently 21.67%.

Analyst Upgrades and Downgrades

ITT has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus increased their target price 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. KeyCorp boosted 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. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.