Quantinno Capital Management LP Acquires 1,331 Shares of ITT Inc. (NYSE:ITT)

Quantinno Capital Management LP increased its stake in shares of ITT Inc. (NYSE:ITT) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,102 shares of the conglomerate’s stock after acquiring an additional 1,331 shares during the quarter. Quantinno Capital Management LP’s holdings in ITT were worth $2,856,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ITT. Polar Asset Management Partners Inc. increased its holdings in shares of ITT by 68.9% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock worth $16,596,000 after purchasing an additional 45,300 shares during the period. Cinctive Capital Management LP bought a new stake in shares of ITT in the third quarter valued at about $748,000. Concentric Capital Strategies LP acquired a new stake in ITT during the third quarter worth about $1,804,000. Paloma Partners Management Co bought a new position in ITT during the third quarter valued at about $419,000. Finally, Erste Asset Management GmbH acquired a new position in ITT in the 3rd quarter valued at approximately $7,075,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Price Performance

Shares of ITT stock opened at $153.14 on Tuesday. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.02 and a beta of 1.40. The firm’s 50-day moving average price is $150.78 and its two-hundred day moving average price is $140.14. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. ITT Inc. has a 1-year low of $111.96 and a 1-year high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping 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%. ITT’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 EPS. On average, equities analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.83%. ITT’s dividend payout ratio (DPR) is 21.67%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ITT. KeyCorp lifted their price objective on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Robert W. Baird lowered their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. TD Cowen raised their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. 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, Stifel Nicolaus lifted their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.13.

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.