ITT Inc. (NYSE:ITT) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in ITT Inc. (NYSE:ITT) by 24.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,185 shares of the conglomerate’s stock after purchasing an additional 4,683 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ITT were worth $3,616,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in ITT in the third quarter valued at approximately $26,000. Lynx Investment Advisory purchased a new position in shares of ITT in the 2nd quarter valued at $27,000. UMB Bank n.a. lifted its holdings in shares of ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 180 shares in the last quarter. Headlands Technologies LLC purchased a new stake in ITT during the 2nd quarter worth $32,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in ITT in the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

Shares of ITT stock opened at $156.07 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.02 and a beta of 1.41. ITT Inc. has a one year low of $109.36 and a one year high of $161.13. The company’s 50-day simple moving average is $149.91 and its 200-day simple moving average is $139.41.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. The company had revenue of $885.20 million during 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%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 EPS. Equities analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. ITT’s dividend payout ratio (DPR) is 21.84%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITT. Stifel Nicolaus upped their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. Robert W. Baird dropped their price objective 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. The Goldman Sachs Group upped their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, KeyCorp lifted 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $161.88.

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.