ITT Inc. $ITT Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC grew its holdings in shares of ITT Inc. (NYSE:ITT) by 23.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,058 shares of the conglomerate’s stock after buying an additional 2,464 shares during the period. New York Life Investment Management LLC’s holdings in ITT were worth $2,635,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ITT. Pension & Wealth Management Advisors Inc. acquired a new position in shares of ITT during the 3rd quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in ITT during the second quarter worth $28,000. Trust Co. of Vermont bought a new position in ITT during the second quarter worth $33,000. Transamerica Financial Advisors LLC acquired a new stake in ITT in the second quarter worth $43,000. Finally, Persistent Asset Partners Ltd acquired a new stake in ITT in the second quarter worth $62,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ITT shares. DA Davidson lifted their price target on shares of ITT from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Wolfe Research initiated coverage on shares of ITT in a research report on Tuesday, September 15th. They set an “outperform” rating and a $272.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and issued a $273.00 target price on shares of ITT in a research note on Friday, August 7th. Stifel Nicolaus boosted their target price on ITT from $256.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, November 9th. Finally, Citigroup dropped their price target on ITT from $267.00 to $251.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.78.

ITT Stock Down 1.6%

NYSE ITT traded down $3.48 during mid-day trading on Friday, hitting $211.11. The company’s stock had a trading volume of 713,022 shares, compared to its average volume of 933,253. The company’s 50 day simple moving average is $202.59 and its 200 day simple moving average is $200.12. ITT Inc. has a twelve month low of $166.96 and a twelve month high of $230.32. The company has a current ratio of 1.29, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $18.83 billion, a price-to-earnings ratio of 43.44, a PEG ratio of 1.52 and a beta of 1.25.

ITT (NYSE:ITT) last announced its quarterly earnings results on Wednesday, November 4th. The conglomerate reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.18. ITT had a net margin of 8.07% and a return on equity of 15.47%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $1.78 EPS. ITT’s quarterly revenue was up 44.2% on a year-over-year basis. Analysts anticipate that ITT Inc. will post 8.60 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be issued a $0.3860 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, December 4th. ITT’s dividend payout ratio is currently 31.69%.

Insider Transactions at ITT

In other ITT news, CAO Graziano De sold 500 shares of ITT stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $214.01, for a total transaction of $107,005.00. Following the completion of the transaction, the chief accounting officer owned 6,659 shares in the company, valued at approximately $1,425,092.59. The trade was a 6.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Luca Savi acquired 5,019 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $199.56 per share, with a total value of $1,001,591.64. Following the completion of the acquisition, the chief executive officer directly owned 267,373 shares in the company, valued at approximately $53,356,955.88. This represents a 1.91% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.88% of the company’s stock.

ITT Company Profile

ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.