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

Great West Life Assurance Co. Can purchased a new position in ITT Inc. (NYSE:ITTGet Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 64,978 shares of the conglomerate’s stock, valued at approximately $4,244,000.

A number of other institutional investors have also recently made changes to their positions in ITT. American Century Companies Inc. boosted its stake in 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 buying an additional 878 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in 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 buying an additional 1,462 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in 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 buying an additional 2,992 shares during the last quarter. Synovus Financial Corp boosted its stake in 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 buying an additional 208 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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 buying an additional 6,511 shares during the last quarter. 90.16% of the stock is owned by institutional investors and hedge funds.

ITT Trading Up 3.0 %

ITT stock opened at $86.09 on Monday. The company has a market capitalization 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. The business’s fifty day moving average price is $82.75 and its 200 day moving average price is $76.45.

ITT (NYSE:ITTGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. ITT had a return on equity of 16.95% and a net margin of 12.26%. The firm had revenue of $753.60 million for the quarter, compared to the consensus estimate of $754.17 million. Research analysts predict that ITT Inc. will post 4.39 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 1st were issued a dividend of $0.264 per share. The ex-dividend date was Wednesday, November 30th. This represents a $1.06 annualized dividend and a yield of 1.23%. ITT’s dividend payout ratio (DPR) is 25.24%.

Wall Street Analysts Forecast Growth

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

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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