M&T Bank Corp Boosts Stock Holdings in ITT Inc. (NYSE:ITT)

M&T Bank Corp lifted its stake in ITT Inc. (NYSE:ITT) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,334 shares of the conglomerate’s stock after buying an additional 69 shares during the period. M&T Bank Corp’s holdings in ITT were worth $797,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITT. Capital Performance Advisors LLP purchased a new position in shares of ITT in the third quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in ITT during the 2nd quarter valued at about $32,000. UMB Bank n.a. raised its position in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in ITT in the 2nd quarter worth approximately $36,000. Finally, Quent Capital LLC grew its position in shares of ITT by 53.9% in the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after buying an additional 103 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ITT shares. KeyCorp upped 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. Wolfe Research initiated coverage on shares of ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating for the company. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird decreased their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Citigroup lifted their price objective on ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and a consensus target price of $166.75.

ITT Stock Performance

Shares of ITT opened at $151.70 on Tuesday. ITT Inc. has a 52 week low of $113.70 and a 52 week high of $161.13. 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 stock has a market cap of $12.36 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.99 and a beta of 1.40. The business’s 50 day moving average price is $151.24 and its 200-day moving average price is $140.79.

ITT (NYSE:ITT) last issued its quarterly earnings results 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. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.37 earnings per share. Equities research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.319 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. ITT’s dividend payout ratio is presently 21.67%.

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.