Private Advisor Group LLC Buys 3,435 Shares of ITT Inc. (NYSE:ITT)

Private Advisor Group LLC grew its stake in shares of ITT Inc. (NYSE:ITT) by 74.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 8,043 shares of the conglomerate’s stock after acquiring an additional 3,435 shares during the quarter. Private Advisor Group LLC’s holdings in ITT were worth $1,202,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Eagle Bluffs Wealth Management LLC lifted its position in shares of ITT by 0.4% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock valued at $2,457,000 after acquiring an additional 82 shares during the period. AE Wealth Management LLC lifted its position in shares of ITT by 5.9% during the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after buying an additional 100 shares during the last quarter. Quent Capital LLC lifted its position in shares of ITT by 53.9% during the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after buying an additional 103 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in shares of ITT by 4.7% during the 1st quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock worth $314,000 after buying an additional 104 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of ITT by 38.7% during the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock worth $58,000 after buying an additional 118 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Trading Down 3.3 %

Shares of ITT stock opened at $140.12 on Friday. ITT Inc. has a 12-month low of $91.94 and a 12-month high of $153.99. 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’s 50-day moving average price is $142.90 and its 200-day moving average price is $136.12. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.92 and a beta of 1.40.

ITT (NYSE:ITT) last posted its quarterly earnings data 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 business had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.37 EPS. Equities research analysts predict that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.319 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.91%. ITT’s dividend payout ratio (DPR) is currently 24.90%.

Wall Street Analysts Forecast Growth

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

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.