Allspring Global Investments Holdings LLC Boosts Stock Position in ITT Inc. (NYSE:ITT)

Allspring Global Investments Holdings LLC boosted its position in shares of ITT Inc. (NYSE:ITT) by 46.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,398 shares of the conglomerate’s stock after acquiring an additional 30,320 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.12% of ITT worth $14,263,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Mawer Investment Management Ltd. purchased a new position in shares of ITT in the second quarter valued at approximately $49,043,000. Select Equity Group L.P. boosted its position in ITT by 11.7% in the 2nd 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 during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of ITT by 73.4% in 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 acquiring an additional 288,671 shares in the last quarter. Millennium Management LLC increased its position in shares of ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after acquiring an additional 262,470 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of ITT by 115.6% in the second 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.

ITT Stock Up 0.3 %

Shares of NYSE:ITT opened at $143.78 on Friday. 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 firm has a 50 day simple moving average of $142.17 and a 200-day simple moving average of $135.74. The company has a market capitalization of $11.75 billion, a PE ratio of 27.44, a P/E/G ratio of 1.92 and a beta of 1.40. ITT Inc. has a twelve month low of $91.94 and a twelve month high of $153.99.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. ITT’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.89%. The ex-dividend date was Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is 24.43%.

Analysts Set New Price Targets

ITT has been the topic of several recent research reports. Stifel Nicolaus upped their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen lifted their price target on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. The Goldman Sachs Group increased their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, KeyCorp lifted their price objective on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $155.25.

ITT Company 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.