Atria Investments Inc Boosts Stake in ITT Inc. (NYSE:ITT)

Atria Investments Inc lifted its holdings in shares of ITT Inc. (NYSE:ITT) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,912 shares of the conglomerate’s stock after purchasing an additional 163 shares during the quarter. Atria Investments Inc’s holdings in ITT were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in ITT during the third quarter worth about $26,000. JB Capital LLC boosted its position in shares of ITT by 5.0% during the 3rd quarter. JB Capital LLC now owns 11,155 shares of the conglomerate’s stock worth $1,668,000 after purchasing an additional 527 shares during the period. Radnor Capital Management LLC increased its holdings in ITT by 6.6% in the 3rd quarter. Radnor Capital Management LLC now owns 3,243 shares of the conglomerate’s stock valued at $485,000 after purchasing an additional 200 shares during the last quarter. Marks Group Wealth Management Inc raised its position in ITT by 1.5% in the third quarter. Marks Group Wealth Management Inc now owns 64,094 shares of the conglomerate’s stock valued at $9,583,000 after purchasing an additional 917 shares during the period. Finally, Rational Advisors LLC acquired a new position in ITT during the third quarter worth $2,572,000. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITT has been the topic of several research analyst reports. TD Cowen boosted their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. KeyCorp boosted their price target on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Stifel Nicolaus raised their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird cut their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target 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. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $161.88.

ITT Trading Up 0.5 %

Shares of NYSE:ITT opened at $153.43 on Tuesday. ITT Inc. has a 52 week low of $107.01 and a 52 week high of $155.52. The company’s 50 day moving average is $146.54 and its two-hundred day moving average is $138.11. The company has a market cap of $12.51 billion, a PE ratio of 26.18, a P/E/G ratio of 1.98 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 (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. ITT’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 earnings per share. Equities analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The business 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 $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.83%. ITT’s dividend payout ratio is currently 21.67%.

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.