Covea Finance lifted its stake in ITT Inc. (NYSE:ITT – Free Report) by 18.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,800 shares of the conglomerate’s stock after purchasing an additional 40,200 shares during the period. ITT accounts for about 1.7% of Covea Finance’s investment portfolio, making the stock its 20th biggest holding. Covea Finance owned about 0.31% of ITT worth $38,095,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently modified their holdings of ITT. SageView Advisory Group LLC purchased a new position in shares of ITT in the 4th quarter valued at approximately $247,000. Vanguard Group Inc. grew its position in shares of ITT by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after buying an additional 65,173 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of ITT in the 4th quarter worth about $394,000. HighPoint Advisor Group LLC bought a new position in shares of ITT in the 4th quarter worth about $622,000. Finally, Kapitalo Investimentos Ltda purchased a new position in ITT during the 4th quarter valued at about $100,000. Institutional investors own 91.59% of the company’s stock.
ITT Stock Performance
ITT stock traded up $3.11 during midday trading on Friday, reaching $152.08. 217,151 shares of the company traded hands, compared to its average volume of 379,465. ITT Inc. has a 12 month low of $91.94 and a 12 month high of $153.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The business has a 50 day moving average of $138.97 and a two-hundred day moving average of $134.77. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 29.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40.
ITT Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $0.319 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.28 annualized dividend and a yield of 0.84%. ITT’s payout ratio is presently 24.43%.
Analyst Upgrades and Downgrades
ITT has been the subject of several recent research reports. TD Cowen lifted their target price on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. The Goldman Sachs Group boosted their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp raised their price target on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price target on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $152.88.
Get Our Latest Research Report on ITT
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.
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