TimesSquare Capital Management LLC Acquires 15,830 Shares of ITT Inc. (NYSE:ITT)

TimesSquare Capital Management LLC increased its holdings in shares of ITT Inc. (NYSE:ITT) by 12.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 148,166 shares of the conglomerate’s stock after purchasing an additional 15,830 shares during the period. TimesSquare Capital Management LLC’s holdings in ITT were worth $22,152,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mawer Investment Management Ltd. acquired a new stake in shares of ITT in the 2nd quarter valued at approximately $49,043,000. Select Equity Group L.P. boosted its position in ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of ITT by 73.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after buying an additional 288,671 shares during the last quarter. Millennium Management LLC lifted its stake in shares of ITT by 200.4% in the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after acquiring an additional 262,470 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after acquiring an additional 131,708 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ITT. The Goldman Sachs Group upped their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Robert W. Baird lowered their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen lifted their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp raised their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus boosted their price objective on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT currently has an average rating of “Buy” and a consensus price target of $157.78.

ITT Stock Performance

Shares of ITT stock opened at $153.05 on Monday. The company has a market cap of $12.48 billion, a P/E ratio of 26.12, a PEG ratio of 2.02 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $144.05 and a two-hundred day moving average price of $137.10. ITT Inc. has a 1-year low of $100.31 and a 1-year high of $154.35.

ITT (NYSE:ITT) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 earnings per share. As a group, analysts anticipate that ITT Inc. will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio (DPR) is currently 21.84%.

About ITT

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.