Concentric Capital Strategies LP Invests $1.80 Million in ITT Inc. (NYSE:ITT)

Concentric Capital Strategies LP bought a new stake in ITT Inc. (NYSE:ITT) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 12,063 shares of the conglomerate’s stock, valued at approximately $1,804,000.

A number of other institutional investors have also added to or reduced their stakes in ITT. Paloma Partners Management Co bought a new stake in shares of ITT during the third quarter valued at approximately $419,000. Erste Asset Management GmbH acquired a new stake in ITT in the 3rd quarter valued at $7,075,000. Captrust Financial Advisors grew its position in ITT by 5.7% in the 3rd quarter. Captrust Financial Advisors now owns 12,293 shares of the conglomerate’s stock valued at $1,838,000 after purchasing an additional 665 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ITT by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 229,427 shares of the conglomerate’s stock worth $34,302,000 after buying an additional 3,415 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ITT by 24.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,185 shares of the conglomerate’s stock valued at $3,616,000 after buying an additional 4,683 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on ITT. StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Robert W. Baird lowered their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen lifted their target price on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus raised their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, ITT has an average rating of “Moderate Buy” and a consensus target price of $161.88.

ITT Trading Down 0.0 %

NYSE ITT opened at $156.07 on Tuesday. The business’s fifty day moving average is $149.91 and its 200-day moving average is $139.41. 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 has a market capitalization of $12.72 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.02 and a beta of 1.40. ITT Inc. has a one year low of $109.36 and a one year high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping 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 business had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same quarter in the previous year, the firm posted $1.37 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts predict that ITT Inc. will post 5.84 EPS for the current year.

ITT Dividend Announcement

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