Brown Brothers Harriman & Co. Invests $36,000 in ITT Inc. (NYSE:ITT)

Brown Brothers Harriman & Co. purchased a new position in ITT Inc. (NYSE:ITT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 275 shares of the conglomerate’s stock, valued at approximately $36,000.

Several other institutional investors also recently added to or reduced their stakes in ITT. Norges Bank bought a new position in ITT in the 4th quarter worth about $102,709,000. Dynamic Technology Lab Private Ltd purchased a new position in ITT during the 4th quarter worth $274,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in ITT during the 4th quarter valued at $78,000. Coldstream Capital Management Inc. lifted its holdings in shares of ITT by 11.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 6,013 shares of the conglomerate’s stock worth $717,000 after buying an additional 611 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in shares of ITT by 73.8% in the 4th quarter. Corient Private Wealth LLC now owns 10,523 shares of the conglomerate’s stock worth $1,256,000 after buying an additional 4,470 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen lifted their price objective on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. KeyCorp boosted their price target on shares of ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price target on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $151.00.

ITT Stock Up 5.8 %

Shares of ITT stock opened at $146.78 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $12.08 billion, a P/E ratio of 28.61, a PEG ratio of 1.71 and a beta of 1.40. The firm’s 50 day moving average price is $135.59 and its 200-day moving average price is $132.48. ITT Inc. has a 52-week low of $91.94 and a 52-week high of $149.65.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business had revenue of $905.90 million for the quarter, compared to analyst estimates of $916.38 million. During the same period in the previous year, the company earned $1.33 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.319 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.87%. ITT’s payout ratio is 24.90%.

ITT Profile

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.