Brooklyn Investment Group Makes New Investment in ITT Inc. (NYSE:ITT)

Brooklyn Investment Group bought a new stake in shares of ITT Inc. (NYSE:ITT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 383 shares of the conglomerate’s stock, valued at approximately $57,000.

A number of other hedge funds have also modified their holdings of ITT. Eagle Asset Management Inc. acquired a new stake in ITT during the third quarter valued at $67,503,000. Mawer Investment Management Ltd. acquired a new stake in shares of ITT during the 2nd quarter valued at about $49,043,000. Select Equity Group L.P. grew its stake in shares of ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares in the last quarter. Millennium Management LLC increased its holdings in ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after buying an additional 262,470 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after acquiring an additional 131,708 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ITT. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp raised their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen boosted their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, ITT has an average rating of “Moderate Buy” and an average target price of $161.88.

ITT Price Performance

Shares of ITT stock opened at $155.60 on Friday. ITT Inc. has a 52 week low of $107.01 and a 52 week high of $161.13. The stock has a market capitalization of $12.68 billion, a PE ratio of 26.55, a PEG ratio of 2.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock’s fifty day moving average is $149.49 and its 200-day moving average is $139.14.

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

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio is presently 21.67%.

ITT 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.