Fisher Asset Management LLC Increases Stake in ITT Inc. (NYSE:ITT)

Fisher Asset Management LLC raised its holdings in ITT Inc. (NYSE:ITT) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,136 shares of the conglomerate’s stock after buying an additional 9,839 shares during the period. Fisher Asset Management LLC’s holdings in ITT were worth $17,064,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in ITT by 17.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,472 shares of the conglomerate’s stock worth $336,000 after purchasing an additional 363 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of ITT by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,408 shares of the conglomerate’s stock worth $6,313,000 after buying an additional 2,637 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of ITT by 5.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,716 shares of the conglomerate’s stock worth $369,000 after buying an additional 144 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in ITT by 71.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 145 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new position in ITT in the second quarter worth approximately $27,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Price Performance

ITT stock opened at $155.60 on Thursday. The firm has a 50 day moving average of $149.15 and a 200-day moving average of $139.03. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.07 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. ITT Inc. has a 12-month low of $107.01 and a 12-month high of $161.13.

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

ITT Dividend Announcement

The company 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 dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.82%. ITT’s dividend payout ratio is currently 21.67%.

Wall Street Analyst Weigh In

ITT has been the topic of a number of analyst reports. KeyCorp raised their price objective on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen upped their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird decreased their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus raised their price objective on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.88.

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.