ITT Inc. (NYSE:ITT) Shares Acquired by Suncoast Equity Management

by · The Cerbat Gem

Suncoast Equity Management lifted its position in ITT Inc. (NYSE:ITT – Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,370 shares of the conglomerate’s stock after acquiring an additional 204 shares during the period. Suncoast Equity Management’s holdings in ITT were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in ITT during the 4th quarter valued at approximately $394,000. Park Avenue Securities LLC boosted its holdings in ITT by 8.3% in the first quarter. Park Avenue Securities LLC now owns 3,700 shares of the conglomerate’s stock valued at $503,000 after purchasing an additional 282 shares during the last quarter. Register Financial Advisors LLC grew its position in ITT by 4.5% during the 1st quarter. Register Financial Advisors LLC now owns 3,454 shares of the conglomerate’s stock worth $470,000 after purchasing an additional 150 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new stake in ITT during the 1st quarter worth about $204,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of ITT by 540.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,379 shares of the conglomerate’s stock valued at $8,349,000 after buying an additional 51,789 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of NYSE ITT traded down $1.00 during trading on Monday, hitting $148.28. The company had a trading volume of 75,846 shares, compared to its average volume of 378,997. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40. The stock has a fifty day simple moving average of $141.09 and a two-hundred day simple moving average of $135.32. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. ITT Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $153.99.

ITT (NYSE:ITT – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company had revenue of $905.90 million for the quarter, compared to analysts’ expectations of $916.38 million. During the same period in the previous year, the firm posted $1.33 EPS. ITT’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, September 3rd. ITT’s dividend payout ratio is currently 24.90%.

Wall Street Analyst Weigh In

ITT has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. KeyCorp lifted their target price on shares of 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 target on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen lifted their price objective on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $155.25.

Read Our Latest Stock Report on ITT

ITT Company Profile

(Free Report)

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.

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