Victory Capital Management Inc. Boosts Stock Position in ITT Inc. (NYSE:ITT)

Victory Capital Management Inc. increased its position in shares of ITT Inc. (NYSE:ITT) by 15.4% in the 3rd quarter, Holdings Channel reports. The firm owned 306,516 shares of the conglomerate’s stock after purchasing an additional 40,860 shares during the period. Victory Capital Management Inc.’s holdings in ITT were worth $45,827,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ITT. Capital Performance Advisors LLP acquired a new position in ITT during the third quarter worth $26,000. Lynx Investment Advisory acquired a new position in ITT during the 2nd quarter worth about $27,000. UMB Bank n.a. lifted its stake in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares in the last quarter. Headlands Technologies LLC acquired a new position in ITT during the 2nd quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in ITT during the 2nd quarter worth about $36,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Trading Up 0.7 %

Shares of NYSE ITT opened at $152.67 on Friday. The stock’s 50 day moving average price is $146.09 and its two-hundred day moving average price is $137.78. ITT Inc. has a 52-week low of $107.01 and a 52-week high of $155.52. The stock has a market capitalization of $12.44 billion, a P/E ratio of 26.05, a PEG ratio of 1.99 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last announced 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. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter in the prior year, the firm posted $1.37 earnings per share. ITT’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 21.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. KeyCorp increased their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Stifel Nicolaus increased their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. TD Cowen increased their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird reduced their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Ten investment 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 target price 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.