Erste Asset Management GmbH Takes Position in ITT Inc. (NYSE:ITT)

Erste Asset Management GmbH purchased 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 purchased 47,228 shares of the conglomerate’s stock, valued at approximately $7,075,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of ITT in the 3rd quarter valued at $26,000. Lynx Investment Advisory acquired a new stake in ITT in the second quarter valued at about $27,000. UMB Bank n.a. grew its position in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 180 shares during the last quarter. Headlands Technologies LLC acquired a new position in ITT during the second quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of ITT in the second quarter worth about $36,000. 91.59% of the stock is owned by institutional investors.

ITT Trading Up 0.3 %

Shares of ITT stock opened at $156.12 on Monday. The stock has a 50 day simple moving average of $149.91 and a two-hundred day simple moving average of $139.41. The company has a market cap of $12.73 billion, a P/E ratio of 26.64, a PEG ratio of 2.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. ITT Inc. has a fifty-two week low of $107.10 and a fifty-two week high of $161.13.

ITT (NYSE:ITT) last posted its quarterly 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 the consensus estimate of $884.50 million. During the same period in the prior year, the business earned $1.37 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts forecast that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Stifel Nicolaus upped their price target on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp raised their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen upped their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird cut 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.88.

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.