Harbor Capital Advisors Inc. Acquires 1,241 Shares of ITT Inc. (NYSE:ITT)

Harbor Capital Advisors Inc. increased its stake in shares of ITT Inc. (NYSE:ITT) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 47,930 shares of the conglomerate’s stock after purchasing an additional 1,241 shares during the quarter. Harbor Capital Advisors Inc. owned 0.06% of ITT worth $6,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of ITT during the third quarter valued at $26,000. Resources Management Corp CT ADV bought a new stake in ITT during the 3rd quarter valued at $30,000. ORG Wealth Partners LLC bought a new position in shares of ITT during the 4th quarter worth approximately $30,000. Headlands Technologies LLC purchased a new position in ITT in the second quarter worth $32,000. Finally, UMB Bank n.a. increased its position in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Trading Down 3.1 %

Shares of ITT stock traded down $4.50 on Friday, hitting $138.44. The stock had a trading volume of 143,811 shares, compared to its average volume of 312,730. The company’s 50 day moving average price is $149.77 and its 200-day moving average price is $142.41. ITT Inc. has a 1 year low of $115.96 and a 1 year high of $161.13. The firm has a market capitalization of $11.28 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

ITT (NYSE:ITT) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 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 analysts’ expectations of $884.50 million. During the same quarter last year, the company posted $1.37 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Friday, November 29th. ITT’s dividend payout ratio is currently 21.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. TD Cowen boosted their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wolfe Research assumed coverage on ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Citigroup upped their price objective on shares of ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group lifted 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and a consensus target price of $166.75.

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.