American Century Companies Inc. Acquires 11,236 Shares of ITT Inc. (NYSE:ITT)

American Century Companies Inc. grew its holdings in ITT Inc. (NYSE:ITT) by 28.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,675 shares of the conglomerate’s stock after acquiring an additional 11,236 shares during the quarter. American Century Companies Inc. owned 0.06% of ITT worth $6,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ITT. Lynx Investment Advisory bought a new stake in shares of ITT in the second quarter valued at approximately $27,000. Rise Advisors LLC boosted its position in shares of ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 205 shares during the period. Headlands Technologies LLC bought a new stake in shares of ITT in the second quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV boosted its position in shares of 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 during the period. Finally, Blue Trust Inc. boosted its position in shares of ITT by 38.7% in the second quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock valued at $58,000 after acquiring an additional 118 shares during the period. 91.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ITT. KeyCorp upped their target price on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. TD Cowen upped their target price on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Stifel Nicolaus upped their target price on ITT from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT currently has an average rating of “Buy” and an average target price of $151.00.

ITT Price Performance

Shares of ITT stock opened at $147.70 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 1.71 and a beta of 1.40. ITT Inc. has a 1-year low of $91.94 and a 1-year high of $149.65. The firm’s 50-day moving average price is $136.35 and its two-hundred day moving average price is $133.05.

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

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 annualized dividend and a yield of 0.86%. ITT’s dividend payout ratio is 24.90%.

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.