Paloma Partners Management Co Takes Position in ITT Inc. (NYSE:ITT)

Paloma Partners Management Co acquired a new stake in ITT Inc. (NYSE:ITT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,802 shares of the conglomerate’s stock, valued at approximately $419,000.

Several other institutional investors have also modified their holdings of ITT. Capital Performance Advisors LLP acquired a new stake in shares of ITT during the third quarter worth $26,000. UMB Bank n.a. raised its position in shares of ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares during the period. Headlands Technologies LLC acquired a new stake in shares of ITT during the second quarter worth $32,000. Brown Brothers Harriman & Co. acquired a new stake in shares of ITT during the second quarter worth $36,000. Finally, Quent Capital LLC raised its position in shares of ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Stock Up 1.1 %

ITT opened at $157.75 on Thursday. ITT Inc. has a fifty-two week low of $110.24 and a fifty-two week high of $161.13. The business has a 50-day moving average of $150.28 and a 200-day moving average of $139.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The company has a market capitalization of $12.86 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million for 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 firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 EPS. Equities research analysts forecast that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio is 21.67%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Cowen upped their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Stifel Nicolaus upped their price target on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com lowered ITT from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.88.

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.