ITT Inc. (NYSE:ITT) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc raised its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 94.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 140,200 shares of the conglomerate's stock after purchasing an additional 68,000 shares during the quarter. TD Asset Management Inc owned 0.17% of ITT worth $18,108,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in ITT in the fourth quarter worth approximately $134,433,000. T. Rowe Price Investment Management Inc. grew its position in ITT by 63.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate's stock worth $133,056,000 after acquiring an additional 360,123 shares during the period. Select Equity Group L.P. grew its position in ITT by 7.7% in the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after acquiring an additional 326,947 shares during the period. GAMMA Investing LLC boosted its position in shares of ITT by 13,886.0% during the first quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate's stock worth $27,693,000 after buying an additional 212,873 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in shares of ITT during the fourth quarter worth $27,614,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ITT shares. KeyCorp lifted their target price on ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a report on Friday. The Goldman Sachs Group boosted their target price on ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Bank of America upped their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Stifel Nicolaus upped their price target on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $177.88.

ITT Trading Down 3.5%

Shares of ITT stock traded down $6.00 during trading hours on Friday, reaching $163.96. 690,025 shares of the company's stock were exchanged, compared to its average volume of 523,207. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $170.16. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 2.01 and a beta of 1.35. The company has a fifty day moving average of $155.44 and a 200-day moving average of $144.94.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.02. The business had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $1.49 EPS. On average, equities research analysts anticipate that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be issued a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. ITT's dividend payout ratio is currently 22.26%.

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.