Principal Financial Group Inc. Buys 37,648 Shares of ITT Inc. (NYSE:ITT)

Principal Financial Group Inc. lifted its holdings in shares of ITT Inc. (NYSE:ITTGet Rating) by 12.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 328,817 shares of the conglomerate’s stock after acquiring an additional 37,648 shares during the quarter. Principal Financial Group Inc.’s holdings in ITT were worth $22,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of ITT during the 1st quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in shares of ITT during the 2nd quarter valued at approximately $26,000. Lazard Asset Management LLC purchased a new stake in shares of ITT during the 2nd quarter valued at approximately $30,000. CX Institutional purchased a new stake in shares of ITT during the 2nd quarter valued at approximately $35,000. Finally, Assetmark Inc. lifted its stake in ITT by 200.0% in the 2nd quarter. Assetmark Inc. now owns 540 shares of the conglomerate’s stock worth $36,000 after purchasing an additional 360 shares in the last quarter. 91.12% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Up 0.8 %

Shares of ITT stock opened at $84.29 on Monday. The firm has a market cap of $6.97 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.69 and a beta of 1.45. ITT Inc. has a 12-month low of $63.77 and a 12-month high of $105.09. The company’s fifty day simple moving average is $72.92 and its two-hundred day simple moving average is $72.46.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 1st will be issued a $0.264 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 30th. ITT’s dividend payout ratio (DPR) is presently 25.24%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ITT shares. StockNews.com started coverage on shares of ITT in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Stifel Nicolaus lowered their target price on shares of ITT from $84.00 to $78.00 in a research note on Tuesday, October 11th. Citigroup increased their target price on shares of ITT to $90.00 in a research note on Monday, August 15th. TheStreet raised shares of ITT from a “c+” rating to a “b-” rating in a report on Tuesday, August 23rd. Finally, Robert W. Baird decreased their price target on shares of ITT from $88.00 to $83.00 in a report on Friday, November 4th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.80.

ITT Profile

(Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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