Victory Capital Management Inc. Has $45.83 Million Stake in ITT Inc. (NYSE:ITT)

Victory Capital Management Inc. lifted its stake in shares of ITT Inc. (NYSE:ITT) by 15.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 306,516 shares of the conglomerate’s stock after acquiring an additional 40,860 shares during the period. Victory Capital Management Inc. owned 0.38% of ITT worth $45,827,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in ITT during the third quarter worth $26,000. Lynx Investment Advisory purchased a new stake in ITT during the second quarter worth about $27,000. UMB Bank n.a. increased its holdings in 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 buying an additional 180 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of ITT in the second quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of ITT in the second quarter worth about $36,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analysts Set New Price Targets

ITT has been the subject of a number of analyst reports. Robert W. Baird cut their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. KeyCorp boosted their price objective on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their target price on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, TD Cowen boosted their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT has a consensus rating of “Buy” and a consensus target price of $157.78.

ITT Stock Performance

ITT stock opened at $152.67 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $146.09 and its two-hundred day simple moving average is $137.78. ITT Inc. has a twelve month low of $107.01 and a twelve month high of $155.52. The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.99 and a beta of 1.41.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts predict that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 0.84%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio (DPR) is 21.84%.

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.