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.
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