Coastline Trust Co Buys New Shares in ITT Inc. (NYSE:ITT)

Coastline Trust Co acquired a new stake in ITT Inc. (NYSE:ITT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 323 shares of the conglomerate’s stock, valued at approximately $48,000.

Other hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares in the last quarter. KBC Group NV lifted its holdings in shares of ITT by 11.9% in the third quarter. KBC Group NV now owns 2,015 shares of the conglomerate’s stock worth $301,000 after buying an additional 215 shares in the last quarter. Pier 88 Investment Partners LLC boosted its position in shares of ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock worth $4,161,000 after acquiring an additional 20,270 shares during the last quarter. Victory Capital Management Inc. grew its stake in ITT by 15.4% during the third quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate’s stock valued at $45,827,000 after acquiring an additional 40,860 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in ITT in the 3rd quarter valued at $328,000. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT stock opened at $152.60 on Friday. The company has a market capitalization of $12.44 billion, a P/E ratio of 26.04, a PEG ratio of 1.99 and a beta of 1.41. ITT Inc. has a 1-year low of $107.01 and a 1-year high of $155.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The business has a 50-day moving average price of $146.09 and a 200 day moving average price of $137.84.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS 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 analyst estimates of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 EPS. As a group, equities research analysts forecast that ITT Inc. will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 21.84%.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of research analyst reports. TD Cowen raised their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus increased their target price on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. KeyCorp boosted their price target on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Robert W. Baird dropped their price objective 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. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $161.88.

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.