Great West Life Assurance Co. Can Invests $4.24 Million in ITT Inc. (NYSE:ITT)

Great West Life Assurance Co. Can acquired a new position in shares of ITT Inc. (NYSE:ITTGet Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 64,978 shares of the conglomerate’s stock, valued at approximately $4,244,000.

Several other hedge funds have also made changes to their positions in ITT. American Century Companies Inc. boosted its holdings in shares of ITT by 10.5% during the first quarter. American Century Companies Inc. now owns 9,253 shares of the conglomerate’s stock worth $696,000 after purchasing an additional 878 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of ITT by 9.5% during the first quarter. Panagora Asset Management Inc. now owns 16,808 shares of the conglomerate’s stock worth $1,264,000 after purchasing an additional 1,462 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of ITT by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,372 shares of the conglomerate’s stock worth $2,359,000 after purchasing an additional 2,992 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of ITT by 1.2% during the first quarter. Synovus Financial Corp now owns 17,523 shares of the conglomerate’s stock worth $1,330,000 after purchasing an additional 208 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ITT by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,059,146 shares of the conglomerate’s stock worth $79,667,000 after purchasing an additional 6,511 shares during the last quarter. Institutional investors and hedge funds own 90.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on ITT from $82.00 to $94.00 and gave the company a “buy” rating in a report on Friday, December 9th. KeyCorp lifted their target price on ITT from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. StockNews.com assumed coverage on ITT in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Robert W. Baird reduced their target price on ITT from $88.00 to $83.00 in a report on Friday, November 4th. Finally, Stifel Nicolaus lifted their target price on ITT from $92.00 to $100.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

ITT Price Performance

Shares of ITT opened at $86.09 on Monday. The stock’s 50-day moving average is $82.75 and its two-hundred day moving average is $76.45. The stock has a market cap of $7.12 billion, a PE ratio of 20.50, a P/E/G ratio of 1.44 and a beta of 1.43. ITT Inc. has a 12 month low of $63.77 and a 12 month high of $96.63.

ITT (NYSE:ITTGet Rating) last announced its earnings results on Thursday, November 3rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. ITT had a return on equity of 16.95% and a net margin of 12.26%. The business had revenue of $753.60 million for the quarter, compared to analyst estimates of $754.17 million. On average, research analysts anticipate that ITT Inc. will post 4.39 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 1st were given a dividend of $0.264 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, November 30th. ITT’s payout ratio is 25.24%.

About ITT

(Get Rating)

ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions primarily for the transportation, industrial, and energy markets. It operates through the following segments: Motion Technologies, Industrial Process, Connect and Control Technologies, and Corporate and Other.

See Also

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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