Stevens Capital Management LP bought a new position in ITT Inc (NYSE:ITT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,153 shares of the conglomerate’s stock, valued at approximately $928,000.

A number of other institutional investors have also recently modified their holdings of ITT. Meeder Asset Management Inc. purchased a new position in ITT in the third quarter worth about $128,000. Bessemer Group Inc. raised its holdings in ITT by 593.9% in the third quarter. Bessemer Group Inc. now owns 2,831 shares of the conglomerate’s stock worth $173,000 after buying an additional 2,423 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in ITT in the third quarter worth about $176,000. Boston Private Wealth LLC purchased a new position in ITT in the third quarter worth about $205,000. Finally, CIBC Asset Management Inc purchased a new position in ITT in the third quarter worth about $206,000. 91.17% of the stock is owned by institutional investors and hedge funds.

ITT opened at $50.59 on Friday. ITT Inc has a twelve month low of $46.10 and a twelve month high of $63.04. The company has a market cap of $4.56 billion, a PE ratio of 17.07, a P/E/G ratio of 1.34 and a beta of 1.73.

ITT (NYSE:ITT) last released its quarterly earnings data on Friday, November 2nd. The conglomerate reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. ITT had a net margin of 7.80% and a return on equity of 16.10%. The firm had revenue of $680.60 million during the quarter, compared to analysts’ expectations of $677.36 million. During the same period in the previous year, the company earned $0.66 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that ITT Inc will post 3.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be given a dividend of $0.134 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.54 annualized dividend and a yield of 1.06%. ITT’s dividend payout ratio (DPR) is 20.85%.

ITT has been the subject of several research reports. UBS Group boosted their price objective on shares of ITT from $57.00 to $60.00 and gave the company a “sell” rating in a report on Thursday, August 30th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 18th. Gordon Haskett initiated coverage on shares of ITT in a report on Friday, October 12th. They set a “buy” rating for the company. ValuEngine cut shares of ITT from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Oppenheimer set a $67.00 price objective on shares of ITT and gave the company a “buy” rating in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. ITT has a consensus rating of “Buy” and an average target price of $66.25.

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About ITT

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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