Recent changes in institutional investments for ITT include:
- Select Equity Group L.P.: Increased stake by 11.7%, now owns 3,340,392 shares valued at $431.5 million.
- Dimensional Fund Advisors LP: Increased stake by 5.6%, now owns 954,809 shares valued at $123.3 million.
- Bank of New York Mellon Corp: Increased stake by 0.4%, now owns 828,000 shares valued at $107 million.
- Westfield Capital Management: Increased stake by 12.5%, now owns 723,617 shares valued at $98.4 million.
- BNP PARIBAS ASSET MANAGEMENT: Increased stake by 73.4%, now owns 681,839 shares valued at $92.8 million.
Overall, institutional investors and hedge funds hold 91.59% of ITT’s shares.
Analysts Set New Price Targets
Several analysts have upgraded their price targets for ITT:
- Stifel Nicolaus: $157 to $167, “buy” rating.
- Goldman Sachs: $150 to $166, “buy” rating.
- KeyCorp: $155 to $164, “overweight” rating.
- TD Cowen: $125 to $150, “buy” rating.
MarketBeat reports a consensus rating of “buy” with an average target of $155.25.
ITT Stock Update
On Monday, NYSE ITT opened at $149.28, with a market cap of $12.29 billion and a P/E ratio of 29.27. The stock’s 52-week range is from $91.94 to $153.99. ITT recently reported quarterly earnings of $1.49 per share, above expectations, with revenues of $905.90 million. Year-over-year revenue increased by 8.6%.
ITT Dividend Announcement
ITT declared a quarterly dividend of $0.319, paid on September 30th. The annualized dividend amounts to $1.28, yielding 0.85% with a payout ratio of 24.9%.
About ITT
ITT Inc. manufactures engineered components and technology solutions for transportation, industrial, and energy markets. The company includes brake pads, shock absorbers, and sealing technologies primarily for transportation vehicles.
Further Reading
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