Great West Life Assurance Co. Can acquired a new position in shares of ITT Inc. (NYSE:ITT – Get 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
ITT (NYSE:ITT – Get 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%.
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.
- Get a free copy of the StockNews.com research report on ITT (ITT)
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